Cantor Fitzgerald analyst Matthew Prisco initiated coverage of Microchip (MCHP) with a Neutral rating and $70 price target he firm is seeing signs that the cycle is turning with positive commentary generally across the Analog group, and says the group is underowned. Cantor is positive on Microchip’s moves to right the ship and the upside from gross margin expansion over the coming quarters is meaningful, but a lot of this “goodness” is already priced in, the analyst tells investors in a research note.
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Read More on MCHP:
- Microchip initiated with a Neutral at Cantor Fitzgerald
- Microchip price target raised to $83 from $69 at Evercore ISI
- Microchip price target raised to $68 from $55 at Citi
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