Vishay price target raised to $28 from $18 at BofA

BofA raised the firm’s price target on Vishay (VSH) to $28 from $18 and keeps an Underperform rating on the shares. Progress continues, but the firm sees some risks, noting that shares have re-rated 109% higher since April 1, that raw material cost increases can negatively impact margins and that Vishay is likely benefiting from some pull-forward of demand. The firm sees valuation as “stretched based on our assessment of earnings power for the company,” the analyst tells investors.