Littelfuse price target raised to $520 from $450 at Needham

Needham analyst David Williams raised the firm’s price target on Littelfuse (LFUS) to $520 from $450 and keeps a Buy rating on the shares. The company delivered solid Q1 results with upside to guidance, as earnings continue to strengthen with the recovery firming and strategic initiatives beginning to materialize, and the firm believes the data center opportunity is accelerating ahead of expectations while revenue leverage and margin expansion increase confidence in earnings durability as the cycle matures, the analyst tells investors in a research note.