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UPDATE: Stifel Nicolaus Raises PT to $45 on Mellanox Technologies

Stifel Nicolaus raises its price target to $45, up $7, on Buy-rated Mellanox Technologies (NASDAQ: MLNX) on market growth into 2013.

Stifel Nicolaus says, "We are lifting our 12-month price target for MLNX shares based on our newly-introduced 2013 non-GAAP EPS estimates. We have increasing conviction that Mellanox will continue to gain market share in high performance data center networking applications. Our new price target of $45 is based on 24x our 2013E non-GAAP EPS."

MLNX closed at $40.52 a share on Wednesday.

Posted-In: Stifel NicolausAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

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