Stifel Maintains Buy on Microchip Technology, Lowers Price Target to $96-Report Released on 8 January 2024
Portfolio Pulse from Benzinga Newsdesk
Stifel analyst Tore Svanberg has maintained a Buy rating on Microchip Technology (NASDAQ:MCHP) but reduced the price target from $100 to $96, as reported on January 8, 2024.
January 09, 2024 | 2:01 pm
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Stifel maintains a Buy rating on Microchip Technology but lowers the price target from $100 to $96.
While the reduction in the price target could suggest a slightly less optimistic outlook on the stock's valuation, the maintenance of a Buy rating indicates that the analyst still sees positive potential in the company's performance. The impact on the stock price is likely to be neutral in the short term as the lowered price target may be offset by the reaffirmed Buy rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100