Truist cuts Diodes to Hold, modeled sharper relative recovery

As previously reported, Truist analyst William Stein downgraded Diodes to Hold from Buy with a price target of $78, up from $72, as part of the firm’s broader research note on Semis & AI. The analyst states that the firm had been modeling a sharp recovery with about 34% growth in late 2024, versus other companies in its coverage that ranged from 8% to 25%. Truist further cites valuation, noting that even including its recent decline, the stock is up about 25% from the November 9th low vs. the 8% gain for the S&P.