BofA raised the firm’s price target on Microchip (MCHP) to $72 from $67 and keeps a Neutral rating on the shares after having hosted CFO Eric Bjornholt for an investor call following the company’s positive pre-announcement on December 2. Following the guidance raise, the firm is “encouraged by the momentum” and raised its calendar year 2026 and 2027 EPS estimates by 7% and 6%, respectively, the analyst tells investors.
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