Monolithic Power price target raised to $600 from $527 at Truist

Truist analyst William Stein raised the firm’s price target on Monolithic Power to $600 from $527 and keeps a Buy rating on the shares. The company’s Q2 results and Q3 guidance were just above consensus estimates, though these also differ from the “lofty” AI-oriented expectations, the analyst tells investors in a research note. Despite significant near-term “noise” in the model, Truist remains positive on Monolithic Power’s culture of unencumbered innovation driving long-term improvements in average selling prices, customer relationships, margins, and earnings.