UPDATE: Stifel Nicolaus Raises PT to $26 on Monolithic Power Systems on Growth Amid Macro Challenges
Stifel Nicolaus reiterated its Buy rating on Monolithic Power Systems (NASDAQ: MPWR) and increased its price target from $24 to $26.
Stifel Nicolaus commented, "In the company's first year after its 2011 transition, MPWR has regained its footing with 2012 revenue on track to grow in the high single-digits over 2011 (+8.7% y/y based on the midpoint of the company's December quarter revenue guidance range). MPWR is achieving above-peer 2012 growth rate in a challenging environment with macro headwinds. Its 2012 +8.7% y/y growth rate compares with the median growth rate of +1.3% for the companies in our coverage. YTD, MPWR stock has appreciated 42.2% from $15.05 to $21.43 while the SOX index increased 0.9% from 371.75 to 375.03 over the same period."
Monolithic Power Systems closed at $21.43 on Tuesday.
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