Brigantine Advisors Maintains a 'Buy' on PMC-Sierra (PMCS); Raises PT & Estimates
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Brigantine Advisors maintains a 'Buy' on PMC-Sierra (Nasdaq: PMCS), raises price target from $12 to $13.
Brigantine analyst says, "PMC delivered solid results, with sequential revenue growth of 6% and EPS a penny ahead. Growth in storage offset the decline in sales to China for WAN and FTTH. We are raising our estimates and price target, but note that our model includes almost no contribution from the IBM RAID partnership, which looms as upside for 2010."
To see more analyst ratings on PMCS Click Here.
PMC-Sierra, Inc. engages in the design, development, marketing, and support of semiconductor solutions for the enterprise networking, wide area network infrastructure, and access network markets.
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