UBS analyst Timothy Arcuri raised the firm’s price target on Microchip (MCHP) to $65 from $60 and keeps a Buy rating on the shares. The Q1 pre-announcement reflects the firm’s conviction that Microchip’s EPS recovery is still in the early innings, the analyst tells investors in a research note.
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Read More on MCHP:
- U.S. halts exports of chips, jet engine technology to China, NY Times reports
- Microchip narrows Q1 EPS view to 22c-26c from 18c-26c, consensus 22c
- Microchip Technology’s Common Stock Faces Risk Due to Series A Preferred Stock Priority
- Microchip put volume heavy and directionally bearish
- Microchip brings hardware quantum resistance to embedded controllers
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