Vicor price target raised to $60 from $45 at Craig-Hallum

Craig-Hallum analyst Richard Shannon raised the firm’s price target on Vicor to $60 from $45 and keeps a Hold rating on the shares following the company’s annual shareholder meeting last Friday, where it gave an investor presentation with Q&A with management. The firm continues to believe Vicor has product advantages in certain ways, and the company’s comments about customers’ desire to change power conversion approach bodes well for future share gains. Vicor has the potential to gain share later this year with 4G-LVPD solutions, but Craig-Hallum sees considerable risk, mostly on timing. However, it also sees 5G-VPD solutions intersecting by the time next-gen accelerators are introduced in Q1 2024 as more likely, and one for which it has incrementally more confidence.