Credit Suisse Raises Mellanox Price Target

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On Thursday, analysts at Credit Suisse maintained the Neutral rating on shares of Mellanox Technologies, Ltd. MLNX and raised the price target from $38 to $50.

Analysts are positive on the upcoming quarters for Mellanox given that the company offered higher guidance for the first time in seven quarters.

“The structural growth drivers for MLNX continue to be its core IP position in InfiniBand, the addition of Ethernet combo products, an end-to-end solution with the sum of recent acquisitions (Voltaire, Kotura, IPTronics), and our expectations of a continued adoption of high speed connectivity solutions into the marketplace. MLNX has benefited and should continue to benefit from improvements in memory bus I/Os at the processor level, and SSD system level architecture – Cloud, Web 2.0, Big Data/Fast Data are all key secular trends.”

Lastly, Pitzer finds the stock is currently fully valued, hence the Neutral rating.

Posted In: Analyst ColorPrice TargetAnalyst RatingsCredit SuisseJohn Pitzer
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