UPDATE: Stifel Nicolaus Upgrades Supertex to Buy on New Product Cycles

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

Stifel Nicolaus upgraded Supertex (NASDAQ: SUPX) from Hold to Buy and announced a $26.00 price target.Stifel Nicolaus noted, "Over the last 12-18 months, Supertex has released a number of new products that are gaining market acceptance. Over the next couple of years, we see the potential for these new products to drive upside to current estimates and expectations. In addition, Supertex has a healthy balance sheet with $136.9mn cash with no debt and inventory at a multi-year low, and there are both gross margin leverage and operating leverage in the model. As such, we are upgrading SUPX stock from Hold to Buy and establishing a 12-month target price of $26 based on 2.2x EV/CY14E sales."Supertex closed at $19.73 on Monday.

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!