Citi raised the firm’s price target on Microchip (MCHP) to $68 from $55 and keeps a Buy rating on the shares. The firm conducted channel checks throughout the semiconductor supply chain to see if there was any slowdown from tariff pull-ins or the trade war. It “appears the opposite is happening” with upside in the DRAM and analog verticals, the analyst tells investors in a research note. Citi still harbors fears of a slowdown, but says that if it does not appear, then Microchip should post upside to consensus estimates during earnings season.
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