UPDATE: Stifel Nicolaus Lowers PT on BCD Semiconductor to $9

Stifel Nicolaus is out with its report today on BCD Semiconductor BCDS, lowering its PT from $11 to $9. In its report, Stifel Nicolaus writes, "We maintain a Buy rating on BCDS stock. Our 12-month price target of $9 (down from $11) represents 12.5x our revised non-GAAP EPS and 1.1x EV/sales (CY12E)." Shares of BCDS closed Thursday at $5.60.