Truist lowered the firm’s price target on Diodes (DIOD) to $53 from $63 and keeps a Hold rating on the shares after its Q4 earnings miss. The company continues the trend observed thus far among its peers in Q4, with inline results and below-consensus guidance, as the lingering effects of excess inventory continue to dent growth and profitability, the analyst tells investors in a research note. The firm is aware of the positive sales growth, but awaits any visibility of a more full-force recovery before turning constructive, Truist added.
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