- Deutsche Bank analyst Ross Seymore last night initiated coverage of Navitas Semiconductor Corp NVTS with a Buy and $22 price target, implying a 21.95% upside.
- The analyst sees "compelling growth potential" in the gallium nitride semiconductor market.
- While Navitas' revenue base is currently small, the company has high visibility through the first half of 2023 and robust engagements with critical manufacturers in the enterprise, Seymore notes.
- Navitas Semiconductor develops ultra-efficient gallium nitride (GaN) semiconductors that are revolutionizing power electronics.
- Related Content: Why Are Navitas Semiconductor Shares Surging Today?
- Price Action: NVTS shares traded higher by 3.44% at $18.66 in the premarket session on the last check Tuesday.
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