Piper Sandler Downgrades Microchip Technology to Neutral, Announces $80 Price Target
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst Harsh Kumar has downgraded Microchip Technology (NASDAQ:MCHP) from Overweight to Neutral and set a price target of $80. This reflects a more cautious stance on the company's stock.
January 04, 2024 | 10:34 am
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Microchip Technology was downgraded by Piper Sandler from Overweight to Neutral with a price target of $80, indicating a potential pause in the stock's upward momentum.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The new price target of $80 suggests a limited upside potential from the current trading levels, which may dampen investor enthusiasm.
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