Microchip Technology shares are trading higher after Wolfe Research upgraded the stock from Peer Perform to Outperform and announced a $105 price target.
Portfolio Pulse from Benzinga Newsdesk
Microchip Technology's stock (MCHP) is trading higher following an upgrade from Wolfe Research, which changed its rating from Peer Perform to Outperform and set a price target of $105.
January 18, 2024 | 1:42 pm
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POSITIVE IMPACT
Microchip Technology's stock is expected to experience a positive short term impact due to Wolfe Research's upgrade to Outperform and a new price target of $105.
Analyst upgrades typically lead to a positive short term sentiment in the stock as they suggest a better-than-expected future performance. The new price target of $105 by Wolfe Research indicates a significant upside potential from the current trading price, which can attract investors and drive up the stock price.
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IMPORTANCE 80
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