UPDATE: Lake Street Upgrades Himax Technologies As Headwinds Subside
Before the market open on Monday, Lake Street Capital Markets upgraded shares of Himax Technologies (NASDAQ: HIMX) from Hold to Buy and maintained a $7.50 price target.
At Lake Street, the analysts noted they now think their estimates for the third quarter could prove to be low and do not see a "significant" headwind from Samsung's inventory issues moving forward.
Additionally, the analysts now have increased confidence that the LCOS opportunity extends beyond Google and the company has made "meaningful" progress in capturing designs.
Following the upgrade, shares of Himax were up ~2.75 percent in Monday's pre-market session.
Latest Ratings for HIMX
|Aug 2014||Bank of America||Upgrades||Underperform||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.