UPDATE: Deutsche Bank Raises PT to $25 on Monolithic Power; Q1 Upside, Raised Guidance
Deutsche Bank increases its price target from $20 to $25 on Buy-rated Monolithic Power as the company beats expectations for Q1 and raises guidance for Q2.
Deutsche Bank says, "MPWR delivered upside in 1Q12 and provided better than expected guidance for 2Q12, as new product wins and strong bookings momentum is helping the company to buck the relatively challenging macro environment. We think these results provide evidence that MPWR's efforts to diversify its products, markets and geographic exposure are beginning to deliver positive results. We expect the co to continue as a mkt share gainer and view the shares as undervalued."
MPWR closed at $20.72 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.