UPDATE: Jefferies Raises PT to $8 on BCD Semiconductor Manufacturing; Solid Execution, Discount Valuation

Jefferies says in a recent note that it raises the price target from $7.50 to $8 on Buy-rated BCD Semiconductor Manufacturing (NASDAQ: BCDS). Jefferies comments, "Q1 results beat, and Q2 guidance was above Street estimates, marking another quarter of strong execution in a challenging period for the industry. We expect Street estimates to move higher. BCDS has appreciated 53% YTD, but still trades at EV/S of only 0.4x, at a deepdiscount to the group (EV/S avg. of 3.0x). We expect strong QoQ revenue growth in Q2 and Q3 to serve as catalysts."BCDS closed at $6.10 on Wednesday.