UPDATE: Evercore Group Reiterates Overweight Rating, Raises PT on Monolithic Power Systems Following Meetings Last Week

In a report published Monday, Evercore Group analyst Patrick Wang reiterated an Overweight rating on

, and raised the price target from $40.00 to $46.00. In the report, Evercore Group noted, “After our meetings last week, we come away with even greater conviction in our LT thesis and the emergence of MPS 3.0. We see a high likelihood that MPS delivers $2+ of earnings power in 2015 and thus raise our PT to $46 (20x $2 EPS + cash).” Monolithic Power Systems closed on Friday at $34.82.