Shares of Mycronic AB (USOTC:MYCRY) slid 10.7% on Friday following a bearish call from Bank of America, which began coverage of the Swedish electronics manufacturing equipment maker with an underperform rating.
Bank of America analysts said that Chinese demand for display mask writers — one of Mycronic’s core product lines — “has reached its peak,” signaling limited growth potential in a crucial market.
This cautious outlook on the company’s prospects in China, one of its most important regions, weighed heavily on investor sentiment and drove the sharp decline in its share price.
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