Power Integrations price target lowered to $70 from $80 at TD Cowen

TD Cowen lowered the firm’s price target on Power Integrations to $70 from $80 and keeps a Hold rating on the shares. The firm said it isimportant if low hurdles were cleared as both JunQ and SepQ guide show sequential growth off the trough in MarQ. But like many peers, slope of recovery has been difficult to call as demand remains stubbornly weak even as inventory conditions normalize.