UPDATE: Topeka Capital Markets Initiates Coverage on Diodes with Buy Rating, $28 PT on Multiple Positive Factors

In a report published Thursday, Topeka Capital Markets analyst Suji De Silva initiated coverage on

with a Buy rating and $28.00 price target. In the report, Topeka Capital noted, “We are initiating coverage of Diodes Inc. with a Buy rating and a $28.00 price target. We expect DIOD to leverage its customer relationships and manufacturing cost leadership competencies across an even broader set of products, with the recent acquisition of BCD Semiconductor. We also believe gross margins should steadily improve as global demand recovers and the Company drives cost synergies across its combined company manufacturing footprint.” Diodes closed on Wednesday at $23.44.