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Wunderlich Securities raises its rating on Silicon Laboratories
SLAB to Buy from Hold and increases its price target from $44 to $50, as it believes recent selloff in shares has created a new entry opportunity.
Wunderlich Securities comments, "We believe the recent sell-off in the stock has created a more favorable risk/reward scenario and provides an attractive entry point. We were previously sidelined by concerns that a recovery in the business was fully priced in the stock. Now we believe the recent pullback has overly-discounted the growth prospects from several key markets and new products. We also see EPS upside from operating leverage as the company continues to benefit from a recovery in key segments including timing and video
throughout 2012."
SLAB closed at $40.58 a share yesterday.
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