Power Integrations price target lowered to $56 from $70 at Stifel

Stifel lowered the firm’s price target on Power Integrations (POWI) to $56 from $70 and keeps a Buy rating on the shares. The company reported a “roughly inline” September quarter, with revenue higher than estimates primarily due to strong performance within the company’s industrial end market, the analyst tells investors in a research note. The firm noted that revenue guidance was below Street consensus, adding that it believes the shares are trading at attractive multiples despite the disappointing near-term outlook.