Citi raised the firm’s price target on Microchip (MCHP) to $55 from $50 and keeps a Buy rating on the shares. The company reported a “decent” quarter but guided revenue up 8% quarter-over-quarter for the June quarter, the highest revenue growth in the group, the analyst tells investors in a research note. The firm believes Microchip’s “strong guidance” is evidence that it will exhibit the highest earnings growth after the current economic downturn.
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