Market Overview

UPDATE: Credit Suisse Upgrades Xilinx to Outperform, Raises PT

Related XLNX
Trump Reverses Course On ZTE And Optical Stocks Follow
Jim Cramer Shares His Thoughts On Blackstone, Celgene And More
Spotlight On Gambling Reset And Banking Bill (Seeking Alpha)

In a report published Monday, Credit Suisse Group upgraded its rating on Xilinx (NASDAQ: XLNX) from Neutral to Outperform, and raised its price target from $37.00 to $42.00.

Credit Suisse noted, “We are upgrading XLNX to Outperform from Neutral and are raising our 12-month TP to $42 from $37. We are upgrading our rating for three reasons: (1) We prefer Industrial/Auto/Infrastructure (I/A/I) exposure in 2013 as we see a better relative growth profile to the more consumer oriented sectors in Semiconductors especially the handset supply chain - XLNX has greater than 90% of their business in non-consumer end markets. (2) While we see flattish Infrastructure CapEx for 2013, we see a mix shift towards equipment and expect a recovery of spending especially in developed economies - XLNX has 46% exposure to Wireless/line Infrastructure and is better exposed to developed markets. (3) We see a narrowing of the gap at 40nm and a more balance market share picture at 28nm which should allow XLNX to outperform ALTR on a relative basis. We are mindful of the increasing cost of Moore's Law but see 2013 as a more modest R&D year while 20nm pilot technology matures. While we expect a reset to all Semiconductor estimates during 4Q12 Earnings - we see a better recovery off the bottom from XLNX than most other companies in our coverage universe.”

Xilinx closed on Friday at $35.80.

Latest Ratings for XLNX

May 2018NomuraUpgradesReduceNeutral
Apr 2018MacquarieMaintainsNeutralNeutral
Apr 2018KeyBancMaintainsOverweightOverweight

View More Analyst Ratings for XLNX
View the Latest Analyst Ratings

Posted-In: Credit Suisse GroupAnalyst Color Upgrades Analyst Ratings


Related Articles (XLNX)

View Comments and Join the Discussion!