Jefferies Maintains Buy Rating, $10 PT On PWER

Power-One Inc. (NASDAQ: PWER) reported in-line 1Q11 and “provided positive commentaries on market demand and ASP trend,” Jefferies reports.

“The company will host an analyst day in NYC on 5/17, which could be a positive catalyst,” Jefferies writes. “The stock can rebound from current levels. However, its multiple will be capped until it successfully diversifies inverter sales to the fastest growing US and China markets. We maintain our Buy rating and $10 PT.”

Power-One closed Thursday at $7.93.