Goldman Sachs Neutral On Altera

Goldman Sachs is out with a research report on Altera Corp. ALTR and it has a Neutral rating and a $39 price target on shares. In a note to clients, Goldman Sachs writes, "We believe Altera will continue to see a benefit from strong comms infrastructure trends, particularly due to the company's high exposure to wireless spending, more limited exposure to weaker trends in defense, and ongoing market share gains. Although PMC-Sierra is our favorite name in the comms vertical, we continue to prefer Altera to Xilinx." Shares of ALTR gained $1.09 yesterday to close at $34.10.