UPDATE: Deutsche Bank Reiterates On MaxLinear Following Strong 2Q Results

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

, and raised the price target from $12.00 to $13.00. In the report, Deutsche Bank noted, “2Q beat but slight miss in 3Q. MXL delivered strong 2Q results beating on all metrics. The 3Q guide was slightly softer due to a pause in cable. We view this pause as temporary and have increased confidence in the strength of MXL's satellite ramp beginning in 4Q and continuing ramp in 2015. Consequently with strong product cycles in satellite and cable, we raise our estimates, reiterate our Buy rating and raise our PT to $13.” MaxLinear closed on Thursday at $9.48.