UPDATE: Topeka Capital Markets Initiates Altera with Hold on Limited Upside

In a report published Monday, Topeka Capital Markets analyst Suji De Silva initiated coverage on Altera Corporation

with a Hold rating and $34.00 price target. In the report, De Silva noted, “While ALTR is demonstrating strong new product design momentum, we believe that upside in shares will remain limited until communications demand fully recovers.” Altera Corporation closed on Friday at $32.73.