FBR Capital Added Fairchild Semi (FCS) To Top Picks List; Removes International Rectifier (IRF)
FCS Hot Sheet
Rating Summary:5 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
FBR Capital added Fairchild Semiconductor International Inc. (NYSE: FCS) to its Top Picks List, maintaining their Outperform rating and $12 price target.
International Rectifier Corporation (NYSE: IRF) was removed from the Top Picks List.
The firm said, "shares of FCS will react favorably to management's 3Q revenue guidance, while shares of IRF may be more range-bound given the likelihood that low fab utilizations depress gross margins through calendar 3Q. We still think shares of FCS have meaningful upside in coming months, with about 70% upside to our $12 target. Recent checks suggest Fairchild is tracking toward the high end of its 2Q revenue guidance, a positive."
International Rectifier Corporation (NYSE: IRF) was removed from the Top Picks List.
The firm said, "shares of FCS will react favorably to management's 3Q revenue guidance, while shares of IRF may be more range-bound given the likelihood that low fab utilizations depress gross margins through calendar 3Q. We still think shares of FCS have meaningful upside in coming months, with about 70% upside to our $12 target. Recent checks suggest Fairchild is tracking toward the high end of its 2Q revenue guidance, a positive."
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