Stifel analyst Tore Svanberg raised the firm’s price target on Microchip to $80 from $77 and keeps a Buy rating on the shares after the company reiterated its quarterly guidance initially issued on November 3 and reaffirmed its March quarter sequential growth expectations. He continues to believe that Microchip can manage a "softer landing relative to peers" during the broader industry correction, Svanberg tells investors.
Published first on TheFly
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