Jefferies Reiterates Buy Rating on Inphi Corp. (IPHI)
Jefferies is out with a research report this morning, where it reiterates its Buy rating on Inphi Corp. (NASDAQ: IPHI); it has a $28.00 price target on the stock.
The Jefferies analysts said that they believe Inphi is well positioned for revenue and earnings growth driven by data center and network infrastructure exposure with:
(1) “A memory upgrade cycle driven by the ramp of LRDIMM with Intel's Romley server platform
(2) The upgrade of core networks to higher 40/100G bandwidths from 10G”
As for valuation, the analysts remarked, “Our $28 price target is based on 25x our CY12 EPS, a premium to peers due to its secular growth stories and significantly higher earnings growth.”
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