Microsemi (MSCC) PT Raised to $60 at Mizuho Following Strong Qtr and Guidance

November 11, 2016 8:41 AM EST
Get Alerts MSCC Hot Sheet
Price: $56.56 +2.59%

Rating Summary:
    11 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating and bumped his price target on Microsemi Corporation (NASDAQ: MSCC) to $60.00 (from $45.00) following strong results and guidance. The analyst believes MSCC should benefit from a Trump Presidency and may be an attractive M&A target.

Rakesh commented, "MSCC reported SepQ rev/EPS of $450M/$0.91, inline with consensus of $448M/$0.90. GM was 62.6% versus consensus of 62.3% with strength in the seasonally strong Communications segment and SaaS products in the data center. MSCC guided the DecQ to $435M/$0.86 versus consensus of $434M/$0.85. We are adjusting our estimates, reiterating our Buy, and raising our PT to $60 from $46. We believe MSCC should benefit from a Trump Presidency and may be an attractive M&A target."

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 $47.86 yesterday.

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