Northland Capital Markets Upgrades Ultra Clean (UCTT) to Outperform

Northland Capital Markets upgraded Ultra Clean (NASDAQ: UCTT) from Market Perform to Outperform with a price target of $8.00 following better-than-expected results and guidance.

Analyst Colin Rusch commented, "UCTT reported in line Revenue at $117.5M with EPS at $0.07, ahead of the street at $114.4M and $0.02 on better than expected cost management. 3Q15 guidance for Revenue of $117M-$122M and EPS of $0.05-$0.09 was ahead of the street at $115.6M and $0.02. We are upgrading to Outperform (from MP) primarily on valuation noting the company is managing costs better than we anticipated."

For an analyst ratings summary and ratings history on Ultra Clean click here. For more ratings news on Ultra Clean click here.

Shares of Ultra Clean closed at $5.42 yesterday.

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