UPDATE: Stifel Nicolaus Raises PT to $4.40 on Mindspeed Technologies on Small Cells Outlook
Stifel Nicolaus reiterated its Buy rating on Mindspeed Technologies (NASDAQ: MSPD) and raised its price target from $4.20 to $4.40.
Stifel Nicolaus commented, "Mindspeed turned in a respectable quarter and management pointed to expectations for 150% revenue growth in small cells in FY13 from FY12. This is an encouraging trend in our view though profitability remains weak through FY13 in our estimation. We are maintaining our Buy rating with the expectation of some improvement in China fiber business and continued small cell growth."
Mindspeed Technologies closed at $3.78 on Monday.
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