Truist raised the firm’s price target on Monolithic Power (MPWR) to $922 from $899 and keeps a Buy rating on the shares. The company posted modest upside to Q2 estimates and bigger upside to Q3 guidance, the analyst tells investors in a research note. Headline end market commentary wasn’t surprising, but the end market details suggest DC/AI will be down 9% this year, Truist added.
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