UPDATE: Wunderlich Securities Raises PT on Mellanox Technologies from $85 to $150

Wunderlich Securities reiterated a Buy rating on Mellanox Technologies

and raised its price target from $85 to $150. Wunderlich Securities noted, “Mellanox (MLNX) reported 2Q12 EPS of $0.99 on revenue of $133.5 million, crushing consensus estimates of $0.73/$128.0mm. The company also provided guidance approximately 50% ahead of consensus revenue and 2x consensus EPS for the September quarter. Looking forward, we believe the company's flagship InfiniBand technology is in the early stages of a rapid adoption phase, both within its core HPC market and emerging Web 2.0, Cloud, Storage and Enterprise verticals. We reiterate our Buy rating and raise our price target to $150.” Mellanox Technologies closed at $66.38 on Wednesday.