JP Morgan Upgrades Silicon Motion Technology to Overweight, Raises Price Target to $77
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Gokul Hariharan has upgraded Silicon Motion Technology (SIMO) from Neutral to Overweight and increased the price target from $54 to $77.
January 04, 2024 | 3:07 pm
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POSITIVE IMPACT
Silicon Motion Technology's stock rating has been upgraded by JP Morgan from Neutral to Overweight, with a price target increase from $54 to $77.
Upgrades by major analysts like JP Morgan can lead to increased investor confidence and potential stock price appreciation in the short term. The substantial raise in the price target from $54 to $77 suggests a strong bullish outlook on the stock, which could attract more buyers.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100