Jefferies Lifts PT on Maxim Integrated (MXIM), 'More Fashionable to Be a Samsung Supplier in 2013'

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Jefferies raised its price target on Maxim Integrated Products (NASDAQ: MXIM) from $33 to $38 following Q2 results. The firm said its more fashionable to be a Samsung supplier in 2013.

The firm comments, "MXIM posted a $0.01 beat for both DecQ results and the MarQ outlook. In 2013, we expect MXIM's 8%-17% P/E valuation gap to its peers to close as new products in handsets and autos, and exposure to Samsung enables it to outgrow its peers for the 3rd yr in a row. MXIM is one of our top picks for 2013."

Q3 EPS goes down from $0.43 to $0.41, FY13 from $1.80 to $1.77 and FY14 from $2.13 to $2.09.

For an analyst ratings summary and ratings history on Maxim Integrated Products click here. For more ratings news on Maxim Integrated Products click here.

Shares of Maxim Integrated Products closed at $30.99 yesterday, with a 52 week range of $23.55-$31.41.

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