Citi analyst Kelsey Chia raised the firm’s price target on Monolithic Power (MPWR) to $1,100 from $825 and keeps a Buy rating on the shares. Citi also added an “upside 90-day catalyst watch” on the stock ahead of the Q3 results in late October or early November. The firm sees Monolithic’s broadening artificial intelligence power business and momentum in its auto business driving a solid quarter and outlook. Citi expects the company’s estimates and valuation to move higher.
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