Citi raised the firm’s price target on Microchip (MCHP) to $55 from $50 and keeps a Buy rating on the shares. The company posted a “decent” quarter but guided revenue up 8% quarter-over-quarter, the highest revenue growth in the sector, the analyst tells investors in a research note. The firm continues to expect Microchip to exhibit the highest earnings growth after the current economic downturn.
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