Market Overview

UPDATE: Citigroup Raises PT to $57 on Silicon Laboratories; Growth Despite Macro

Related SLAB
Benzinga's Top Initiations
Canaccord Genuity Initiates Silicon Laboratories With Buy

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

DateFirmActionFromTo
Oct 2014CitigroupMaintainsBuy
Oct 2014Pacific CrestDowngradesOutperformSector Perform
Aug 2014Canaccord GenuityInitiates Coverage onBuy

View More Analyst Ratings for SLAB
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (SLAB)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional