Truist analyst William Stein raised the firm’s price target on Monolithic Power to $652 from $483 and keeps a Buy rating on the shares as part of a broader research note on Semis and AI. The firm is updating its valuation models with new 2025 estimates while also including macro/micro indicators, cyclical patterns, public datapoints, and feedback from its industry contacts. Truist notes that despite the “extremely out-of-phase growth” by end markets and products, industry aggregate fundamentals are “clearly in the midst of an upturn”, and the firm believes that Semis/AI stocks will continue to outperform in 2024.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MPWR:
- Monolithic Power price target raised to $700 from $600 at Stifel
- Monolithic Power price target raised to $750 from $550 at Rosenblatt
- Early notable gainers among liquid option names on December 26th
- Monolithic Power Systems Announces Fourth Quarter 2023 Dividend
- Monolithic Power price target raised to $600 from $500 at Oppenheimer