UPDATE: Deutsche Bank Raises PT on Monolithic Power Systems on Greater Confidence in 2014 Growth

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on

, and raised the price target from $30.00 to $35.00. In the report, Deutsche Bank noted, “Raising estimates on greater confidence in 2014 growth. Revisiting one of our favorite names, we have greater confidence in MPWR's multifaceted 2014 growth story. Largely on product cycles in SSDs, Comm, and Computing; a better-than-seasonal 4Q Consumer decline (game console); and stable inventory dynamics, we see MPWR entering 2014 with a number of company-specific drivers that should yield another year of above-industry growth and GM/OM expansion. Accordingly, we are reiterating our Buy rating, raising our CY14 EPS from $1.45 to $1.65.” Monolithic Power Systems closed on Friday at $29.91.