Needham Maintains Buy on Microchip Technology, Raises Price Target to $100
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Quinn Bolton maintains a Buy rating on Microchip Technology (NASDAQ:MCHP) and raises the price target from $90 to $100.
May 07, 2024 | 11:59 am
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Needham analyst Quinn Bolton reaffirmed a Buy rating on Microchip Technology and increased the price target to $100 from $90.
The upgrade in the price target by a reputable analyst like Quinn Bolton suggests a strong confidence in Microchip Technology's future performance. This kind of positive analyst coverage typically leads to increased investor confidence and can drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100