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Canaccord Reiterates Buy Rating, $13 PT for Intersil

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Intersil Initiated Neutral At MKM
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In a daily letter released earlier today, Canaccord Genuity reiterated its Buy rating and $13.00 price target for Intersil Corporation (NASDAQ: ISIL).

Canaccord went on to say “Strong operating leverage, greater confidence on growth, and a sector-high dividend yield keep us Buy rated on ISIL following Tuesday's upbeat analyst day. We expect an 8-K with details of cost cutting and associated restructuring charges to be filed in coming weeks, allowing us to increase our 2013 EPS estimates meaningfully on higher operating margins. We also note management sounded confident regarding the timeline to achieving its updated revenue target of $200 million per quarter.”

Intersil Corporation closed yesterday at $10.66.

Latest Ratings for ISIL

DateFirmActionFromTo
Jun 2016MKM PartnersInitiates Coverage onNeutral
May 2016CLSAInitiates Coverage onUnderperform
Mar 2016WedbushInitiates Coverage onOutperform

View More Analyst Ratings for ISIL
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Posted-In: Canaccord GenuityAnalyst Color Reiteration Analyst Ratings

 

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