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UPDATE: Stifel Nicolaus Raises PT to $62 on Hittite Microwave on Favorable Fundamentals

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Stifel Nicolaus reiterated its Buy rating on Hittite Microwave (NASDAQ: HITT) and raised its price target from $60 to $62.

Stifel Nicolaus said, “We believe Hittite remains among the best positioned companies in the broader semiconductor industry with an enviable business model characterized both by solid growth and record profitability. While investors remain concerned about the company's relative exposure to defense and communications, we believe management sounds increasingly confident in its ability to gain significant share in both segments. Furthermore, and as HITT continues to outperform its closest peers, we believe the company is also fortifying its competitive advantage with a stronger balance sheet."

Hittite Microwave closed at $56.25 on Thursday.

Latest Ratings for HITT

DateFirmActionFromTo
Jul 2014DA DavidsonSuspendsNeutral
Jun 2014Wells FargoDowngradesOutperformMarket Perform
Jun 2014Stifel NicolausDowngradesBuyHold

View More Analyst Ratings for HITT
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

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