Raymond James analyst Chris Caso raised the firm’s price target on Microchip to $105 from $90 and keeps a Strong Buy rating on the shares following December quarter results. The results and guide further support the firm’s view that Microchip is one of the strongest conviction plays to capture value created by the long-term secular growth catalysts driving analog suppliers, with the company outperforming the broader industry, and believes management has provided enough data to defend the strong backlog, the analyst tells investors in a research note.
Published first on TheFly
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