SiTime price target raised to $500 from $450 at Stifel

Stifel analyst Tore Svanberg raised the firm’s price target on SiTime (SITM) to $500 from $450 and keeps a Buy rating on the shares. The firm continues to believe volatility in AI-levered names presents buying opportunities for “long-term investors focused on picking clear technological innovators,” the analyst tells investors in a preview for the analog, connectivity and processors semi group. Broadly speaking, premium valuations for AI-levered names are justified given the clear secular growth in the segment, the analyst added.