Piper Sandler raised the firm’s price target on Microchip (MCHP) to $85 from $80 and keeps an Overweight rating on the shares. The firm thinks calendar 2026 is shaping up to be quite interesting for the company in a positive way. Order momentum has been significantly building over the past 2 months, with an analog recovery also expected to drive significant growth through the June and September quarters, Piper adds. The recovery appears to be largely broad-based but stemming mostly from industrial, with automotive now stabilizing as well.
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