Silicon Labs (SLAB) PT Raised to $85 at Drexel Hamilton; IoT Strength Drives Upside
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Price: $117.50 -3.32%
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
14 Buy, 13 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Drexel Hamilton raised its price target on Silicon Labs (NASDAQ: SLAB) to $85.00 (from $80.00) while maintaining a Buy rating following strong Q1 results.
Analyst Cody Acree noted upside was driven by IoT strength, which was up 3% sequentially and up 24% annually.
Acree sees the sell-off on the news as "simple profit taking and a growing sense of investor and analyst skittishness versus any fundamental disappointment."
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