UPDATE: Stifel Reiterates Buy Rating, Raises PT on Montage Technology Group Ltd. Following Investor Meetings

In a report published Friday, Stifel analyst Tore Svanberg reiterated a Buy rating on Montage Technology Group Ltd. MONT, and raised the price target from $18.00 to $20.00. In the report, Stifel noted, “We hosted investor meetings with CFO Mark Voll and remain positive on the near-term prospects in each of its end-markets, longer-term demand drivers for meaningful top-line growth and further operating leverage to the model. We believe the company remains well positioned to capitalize on its expanding technology portfolio to drive share gains and expand its dollar content across each of its end market applications. We also believe there remains room for expansion of its Operating margins as the company remains firm on its commitment to achieve its target operating model of 55%-60%/25%-30% (GM%/OPM%). Following are our key takeaways from meetings with investors.” Montage Technology Group Ltd. closed on Thursday at $15.60.