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

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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.

Latest Ratings for SUPX

Jan 2014Stifel NicolausMaintainsBuy
Oct 2013Stifel NicolausMaintainsBuy
Jul 2013Stifel NicolausMaintainsBuy

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Posted-In: Stifel NicolausAnalyst Color Upgrades Analyst Ratings


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