Vicor price target raised to $65 from $55 at Needham

Needham analyst N. Quinn Bolton raised the firm’s price target on Vicor (VICR) to $65 from $55 and keeps a Buy rating on the shares after attending the company’s annual Shareholder’s Meeting last Friday. The firm has increased confidence that Vicor will benefit from surging demand for AI processors/XPUs, while noting that the recent upside in NVIDIA’s (NVDA) A100/A800 GPU demand should benefit the company in the near-term. The management’s tone around winning designs in current generation and next-generation XPUs have also improved recently, the analyst tells investors in a research note.