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MagnaChip transferring with Buy rating at Needham

MagnaChip transferring with Buy rating at Needham

Needham analyst Nick Doyle kept a Buy rating on MagnaChip (MX) with a $6 price target following a transfer of coverage. The company reported a solid quarter and guide, displaying its first annual revenue growth since September 2021, the analyst tells investors in a research note. The firm is confident in its initial 2025 revenue estimate of $180M.

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