Morgan Stanley raised the firm’s price target on Microchip (MCHP) to $69 from $68 and keeps an Equal Weight rating on the shares after the company pre-announced Q4 revenue 5% above its initial midpoint of its December-end quarter guidance. After Microchip raised guidance “again,” citing a generally broad-based recovery across most of its end markets, the firm notes that its calendar 2026 and 2027 estimates come up by 11% and 1%, respectively.
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