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UPDATE: Deutsche Bank Initiates Volterra Semiconductor Corporation at Buy with $28 PT

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Deutsche Bank initiated coverage on Volterra Semiconductor Corporation (NASDAQ: VLTR) with a Buy rating and a price target of $28 on expectations that server and storage sectors will rebound.

Deutsche Bank said, "We believe Volterra can deliver above-market revenue growth and modest margin improvement due to a rebound in Server and Storage revenue. We expect the company to gain share across new platforms and although the pace of the ramp may be slow, we see little risk to VLTR's competitive position at leading server OEMs. The company should also see a modest GM tailwind as mix-induced margin pressures abate. The company has historically traded at a premium to the peer group due to relatively high margins and industry leading revenue CAGR."

Volterra Semiconductor Corporation closed at $24.39 on Friday.

Latest Ratings for VLTR

DateFirmActionFromTo
Aug 2013NeedhamDowngradesBuyHold
Aug 2013Deutsche BankDowngradesBuyHold
Aug 2013B Riley & CoDowngradesNeutralSell

View More Analyst Ratings for VLTR
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Posted-In: Deutsche BankAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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