Keybanc Maintains Overweight on Microchip Technology, Lowers Price Target to $90
Portfolio Pulse from Benzinga Newsdesk
Keybanc analyst Weston Twigg has maintained an Overweight rating on Microchip Technology (NASDAQ:MCHP) but lowered the price target from $95 to $90.
November 03, 2023 | 11:18 am
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NEGATIVE IMPACT
Microchip Technology's price target has been lowered from $95 to $90 by Keybanc, though the Overweight rating is maintained.
The lowering of the price target by Keybanc indicates a potential decrease in the stock's value. However, the maintained Overweight rating suggests that the stock is still expected to outperform. This mixed signal could lead to short-term uncertainty and potential downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100