UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Maxim Integrated Products
In a report published Friday, Jefferies reiterated its Buy rating on Maxim Integrated Products (NASDAQ: MXIM), and raised its price target from $33.00 to $38.00.
Jefferies noted, “MXIM posted a $0.01 beat for both DecQ results and the MarQ outlook. In 2013, we expect MXIM's 8%-17% P/E valuation gap to its peers to close as new products in handsets and autos, and exposure to Samsung enables it to outgrow its peers for the 3rd yr in a row. MXIM is one of our top picks for 2013.”
Maxim Integrated Products closed on Thursday at $30.99.
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