ICHR - Ichor stock sinks to over 18-month low on weak results multiple PT cuts

Ichor (NASDAQ:ICHR) stock sank to its lowest in over 18 months on Wednesday after the firm reported weaker-than-expected results and issued guidance below Street estimates. B. Riley cut ICHR's PT to $37 from $42 on lower estimates and slightly lower target multiple, but reiterated its Buy rating. The new PT implies 26.9% potential upside to ICHR's last close. Analyst Craig Ellis in a note to clients said ICHR's results were hurt by "supply chain constraints as well as higher cost of goods sold and project R&D staff adds and higher comp to position for increased demand".  Ellis said ICHR's stock movement is a reaction to its outlook, with investors "perhaps overlooking H2's acceleration potential". Stifel cut ICHR's PT to $50 from $59, implying 71.5% potential upside to its last close, and maintained its Buy rating. Analyst Patrick Ho said ICHR's results were not much of a surprise as supply chain issues and elevated costs impacted

For further details see:

Ichor stock sinks to over 18-month low on weak results, multiple PT cuts