Deutsche Bank Starts Microsemi Corporation (MSCC) at Buy

November 8, 2016 6:46 AM EST
Get Alerts MSCC Hot Sheet
Price: $56.29 +2.10%

Rating Summary:
    11 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 30 | New: 23
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Deutsche Bank initiated coverage on Microsemi Corporation (NASDAQ: MSCC) with a Buy rating and a price target of $60. Analyst Ross Seymore sees favorable risk-reward.

"A reasonably priced self-help story in a semi sector with elevated valuations and maturing fundamentals, MSCC stands well poised to capture post-M&A synergies, raise its GM/OM levels, and enhance its FCF profile as it competes for share gains across product lines and endmarkets. Looking into 2017, the co’s stable organic growth, steady margin expansion, and significant debt reduction should drive EPS upside and narrow MSCC's valuation gap vs peers. Overall, despite the rapid appreciation of the shares since mid-2016, we still see a favorable risk-reward over the next 12 months," said Seymore.

For an analyst ratings summary and ratings history on Microsemi Corporation click here. For more ratings news on Microsemi Corporation click here.

Shares of Microsemi Corporation closed at $47.84 yesterday.

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