UPDATE: Jefferies Raises PT to $8 on BCD Semiconductor Manufacturing; Solid Execution, Discount Valuation
Jefferies says in a recent note that it raises the price target from $7.50 to $8 on Buy-rated BCD Semiconductor Manufacturing (NASDAQ: BCDS).
Jefferies comments, "Q1 results beat, and Q2 guidance was above Street estimates, marking another quarter of strong execution in a challenging period for the industry. We expect Street estimates to move higher. BCDS has appreciated 53% YTD, but still trades at EV/S of only 0.4x, at a deep discount to the group (EV/S avg. of 3.0x). We expect strong QoQ revenue growth in Q2 and Q3 to serve as catalysts."
BCDS closed at $6.10 on Wednesday.
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