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PLAB - Photronics slides after Stifel downgrade on lack of near-term catalysts
Photronics Inc.
Seeing limited upside for the stock following yesterday's fiscal Q1 results, Stifel downgrades Photronics (PLAB) from Buy to Hold with a $13 price target.Analyst Patrick Ho: "Near term, we do not see any new catalysts for the name."Ho does note that PLAB could see some growth vectors out of China.PLAB shares are down 5.8% to $12.60.Yesterday, the company reported FQ1 beats and provided Q2 guidance that was inline with analyst estimates.