A report from J.P. Morgan reiterates its Neutral Rating and establishes its $29 price target on Microchip Technology MCHP.
The report states, “MCHP is trading at 20X our C12 EPS estimate. However, we believe the stock is fairly valued at a 16X multiple, a slight premium to the average large cap semiconductor average of 15X. As a result, we are establishing our December 2012 price target $29.00 or 16X our new C12 EPS estimate. Due to rich valuation, we remain Neutral”.
MCHP closed yesterday at $35.31.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in