Jefferies raised the firm’s price target on Microchip (MCHP) to $120 from $90 and keeps a Buy rating on the shares after its Q4 earnings beat and above-consensus Q1 guide. Results reinforce a broader sense that the Analog and Embedded recovery is gaining traction, with Industrial commentary sounding meaningfully stronger, Aerospace and Defense order activity tracking better, and Data Center momentum continuing to build, the analyst tells investors in a research note.
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