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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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
- Microchip’s Strategic Growth and Market Positioning Drive Buy Rating and $70 Price Target
- Trump Weekly: Appeals court halts block on tariffs, talks with China stall