B. Riley raised the firm’s price target on Microchip (MCHP) to $75 from $60 and keeps a Buy rating on the shares. Microchip’s Q4 print exceeded consensus sales and EPS, and guidance for Q1 was solidly ahead, the analyst tells investors in a research note. Customer engagement, manufacturing, strategy, and distribution are more conclusively back on track, the firm argues, adding that the update shows the executive team has navigated the trough “perceptively.”
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