Stifel boosts SiTime price target, says poised for another beat and raise

Stifel analyst Tore Svanberg raised the firm’s price target on SiTime (SITM) to $600 from $500 and keeps a Buy rating on the shares ahead of Q1 results. The firm noted that SiTime is poised for another beat and raise quarter. Stifel told investors in a research note that recent industry commentary supports its view that SiTime remains well positioned to continue capturing secular upside across its diverse end market mix. The firm added it is leaving its current estimates unchanged in advance of Wednesday’s print.