Morgan Stanley analyst Joseph Moore initiated coverage of Navitas Semiconductor with an Equal Weight rating and $9.20 price target. As a differentiated power IC company with expertise in the third generation semiconductor material markets of GaN and SiC, the firm expects Navitas to benefit from a growing market opportunity as well “as maneuver through China localization threats,” the analyst tells investors. However, the stock’s current valuation “reflects lofty expectations,” the analyst added.
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