Veeco price target lowered to $30 from $35 at Barclays

Barclays analyst Tom O’Malley lowered the firm’s price target on Veeco (VECO) to $30 from $35 and keeps an Equal Weight rating on the shares. After multiple semiconductor capital company airings prints it shouldn’t be a surprise to see China come out of another model, the analyst tells investors in a research note. The firm says 2025 should see a $60M-$70M headwind from China and roughly the same headwind from Data Storage as the drive players continue to remain disciplined in capex.