UPDATE: Stifel Nicolaus Raises PT to $9 on BCD Semiconductor Manufacturing; Business Rebounding
Stifel Nicolaus increases its price target from $8 to $9 on Buy-rated BCD Semiconductor Manufacturing (NASDAQ: BCDS) as business rebounds and revenue grows for Q2.
Stifel Nicolaus says, "Business is in recovery in key segments—TV (robust in the China market) and notebook (ramping aggressively)—and pricing pressure easing. We believe growth reacceleration could be just ahead. First, company guided Q2 revenue to double-digit growth with expressed confidence. Second, BCDS noted that demand is strengthening, customer order lead times have extended, and its higher-value converter business performed well (up 10.3% q/q) due potentially to market share gains."
BCDS closed at $6.10 on Wednesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.