UPDATE: Raymond James Upgrades Maxim Integrated Products, Inc. to Strong Buy, Raises PT to $37.00
In a research note published Monday morning, Raymond James upgraded Maxim Integrated (NASDAQ: MXIM) from Outperform to Strong Buy; the price target was raised from $33 to $37.
Analyst J. Steven Smigie said,"Maxim's gains in the mobile sector have allowed the company to outperform comparables."
Other notable catalyst for both the ratings upgrade and price target increase:
- Maxim is indicating growing dollar content with Samsung
- Maxim has among the highest gross margins and should have one of the best revenue growth rates in the mobile sector
- Maxim's valuation is one of the lowest in the group, which creates a positive risk/reward profile.
Maxim shares are up 2.2 percent to around $30.29 at last check.
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