UPDATE: Miller Tabak Downgrades Silicon Laboratories to Neutral on Slow Growth Environment
Miller Tabak reduced its rating on Silicon Laboratories (NASDAQ: SLAB) from Buy to Neutral.
Miller Tabak commented, "The stock has rallied nicely from oversold levels earlier in the year and is within striking distance of our old price target of $43. We are lowing our revenue and EPS assumptions for 2013 and reduce our target to $41. On a rebound in industry fundamentals and growth in sales we see the company having strong operating leverage in the model to drive EPS growth. However, our view of 2013 is that he industry and the company is facing a slow growth environment and EPS upside will be hard come by."
Silicon Laboratories closed at $38.48 on Monday.
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