Truist Securities Maintains Buy on Microchip Technology, Lowers Price Target to $93
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst William Stein has maintained a Buy rating on Microchip Technology (NASDAQ:MCHP) but has reduced the price target from $97 to $93.

January 09, 2024 | 7:15 pm
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NEUTRAL IMPACT
Truist Securities has maintained a Buy rating on Microchip Technology but lowered the price target from $97 to $93, indicating a positive outlook with a slightly reduced growth expectation.
The maintenance of a Buy rating suggests that Truist Securities still sees Microchip Technology as a good investment. However, the reduction in the price target could imply a more conservative view on the company's growth prospects or a response to market conditions. This could lead to a neutral short-term impact on the stock as the positive recommendation is counterbalanced by the lower price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100