RBC Capital Downgrades Maxim Integrated Products (MXIM) to Sector Perform
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RBC Capital downgraded Maxim Integrated Products (NASDAQ: MXIM) from Outperform to Sector Perform with a price target of $40.00 on valuation.
Analyst Amit Daryanani commented, "We are reducing our rating from Outperform to Sector Perform. Given recent share appreciation, we believe that MXIM's discount vs. peers is fairly modest, and MXIM's self-help lever execution over the past few quarters moves the long thesis becomes more revenue-centric."
Shares of Maxim Integrated Products closed at $40.55 yesterday.
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