Stifel analyst Tore Svanberg raised the agency’s value goal on Microchip (MCHP) to $70 from $60 and retains a Purchase ranking on the shares after fiscal This fall outcomes had been greater than estimates, the fiscal Q1 outlook was above expectations, and administration supplied an replace on its “9 Level Restoration Plan.” The agency believes Microchip continues to maneuver in the correct route, swiftly executing significant adjustments with rapid and long-term optimistic results, the analyst tells traders in a post-earnings be aware.
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