Macom price target raised to $85 from $70 at Craig-Hallum

Craig-Hallum analyst Richard Shannon raised the firm’s price target on Macom (MTSI) to $85 from $70 and keeps a Hold rating on the shares. The deal to buy the radio frequency business of Wolfspeed (WOLF) looks good based on value, immediate accretion and good strategic fit, the analyst tells investors in a research note. The deal could be great if Macom executes on the cash payback goal over the next three years, providing as much as a $1/share in EPS upside in the third year post-close, the firm argues.