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UPDATE: Wunderlich Securities Upgrades PLX Technology to Buy on Growth Outlook, Renewed Focus

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Wunderlich Securities upgraded PLX Technology (NASDAQ: PLXT) from Hold to Buy and raised the price target from $4.00 to $6.00.

Wunderlich Securities noted, "With the failed IDT (IDTI-$7.67, Buy) merger now well behind them, PLX has emerged a leaner, more focused and firmly profitable company primarily targeting the PCI express (PCIe) market. Sustainable growth and profitable operating momentum from the Gen2 products should be leveraged by the ramping of Gen3 later this year. We also expect new activist investors to push for another sale of the company and, along with the return to growth and profitability, we expect sentiment in the name to improve."

PLX Technology closed at $4.68 on Monday.

Latest Ratings for PLXT

Jun 2014Craig-HallumDowngradesBuySell
Apr 2013WunderlichTerminatesBuy
Jan 2013WunderlichUpgradesHoldBuy

View More Analyst Ratings for PLXT
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Upgrades Analyst Ratings


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