UPDATE: Stifel Nicolaus Raises PT to $27 on Monolithic Power Systems on Industry Multiple Expansion

Stifel Nicolaus maintained Monolithic Power Systems

with a Buy rating and raised the price target from $26.00 to $27.00. Stifel Nicolaus said, "We reaffirm our Buy rating and adjusting our 12-month target price from $26 to $27 on multiples expansion in the analog semiconductor space. Our $27 target price represents 27.0x P/E non-GAAP, which compare with its peer group's average 26.6x P/E. … Risks to our 12-month target price include delayed ramp in new products, overly competitive environment, macroeconomic deterioration, and weakening in end market demand." Monolithic Power Systems closed at $24.55 on Tuesday.