Deutsche Bank Starts EZchip Semiconductor (EZCH) at Buy

Deutsche Bank initiates coverage on EZchip Semiconductor (NASDAQ: EZCH) with a Buy. PT $42.00.

The firm comments, "EZchip is the undisputed leader in network processors for the carrier Ethernet switch and router market. Its chips are designed into edge routers by six of the top seven vendors, including market leader Cisco's next generation platforms. Design wins suggest that it will enjoy 50-60% market share for chips in edge routers (vs. 10-15% in 2012) as demand for next generation products ramps up in 2013-15e. A long design and product life cycle means that EZchip has high clarity on its medium-term growth prospects. We think it will be worth the wait; given EZchip's high-margin structure, top-line growth should translate into high earnings."

For an analyst ratings summary and ratings history on EZchip Semiconductor click here. For more ratings news on EZchip Semiconductor click here.

Shares of EZchip Semiconductor closed at $33.81 yesterday.

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