Microsemi (MSCC): Raising PT On Share Gains And Defense Traction - Mizuho
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Mizuho Securities analyst, Vijay Rakesh, reiterated his Buy rating on shares of Microsemi Corporation (NASDAQ: MSCC) after conversations at FMS 2016 indicated that MSCC has been gaining traction with NVMe at Hynix, Micron and Toshiba. He also believes that defense/ aerospace spending could remain a tailwind into 2017.
Another positive may be a recently announced CEO compensation plan with significantly higher stock appreciation levels, which could be a positive for shareholders (it worked well at AVGO). The PT goes to $46 from $42.
price target of $46.00 (from $42.00)
Shares of Microsemi Corporation closed at $40.10 yesterday.
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