B. Riley Securities Upgrades Silicon Motion Technology to Buy, Announces $90 Price Target
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Craig Ellis upgraded Silicon Motion Technology (SIMO) from Neutral to Buy and set a $90 price target. This represents a positive outlook on SIMO's future performance.
February 07, 2024 | 7:29 pm
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Silicon Motion Technology was upgraded by B. Riley Securities from Neutral to Buy with a new price target of $90, indicating a bullish outlook.
Upgrades by analysts, especially from neutral to buy, typically signal confidence in the company's future performance and can lead to increased investor interest and potentially higher stock prices in the short term. The setting of a $90 price target further emphasizes the analyst's bullish outlook, suggesting a significant upside potential from current levels.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100