UPDATE: Stifel Nicolaus Upgrades Vishay Intertechnology to Buy with a $13 PT as Fundamentals Bottom

Stifel Nicolaus upgrades Vishay Intertechnology

from Hold to a Buy rating with a price target of $13 per share. Stifel Nicolaus noted, "We are upgrading our investment rating on shares of Vishay Intertechnology to Buy from Hold, as we believe the component supplier is well positioned for margin expansion and strong cash flow generation when the component-cycle recovers. Although visibility into the demand picture over the next few quarters remains uncertain, we believe fundamentals have at least stabilized following several significant number cuts, and inventory levels across the supply-chain are relatively lean." Vishay Intertechnology closed at $9.56 on Friday.