UPDATE: Citigroup Raises PT to $57 on Silicon Laboratories; Growth Despite Macro
Citigroup reiterated its Buy rating on Silicon Laboratories (NASDAQ: SLAB) and increased its price target from $48 to $57.
Citigroup noted, "We increase C13 EPS to $2.66 from $2.43 with 6.5% higher sales and 50bps lower GM contributing to the variance. … We believe higher multiples are now appropriate for SLAB given: a) demonstrated above average and macro independent sector growth rates; and b) acquisition premium."
Silicon Laboratories closed at $42.29 on Wednesday.
Latest Ratings for SLAB
|Feb 2015||Stifel Nicolaus||Maintains||Buy|
|Feb 2015||Topeka Capital||Upgrades||Hold||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.