Collins Stewart Upgrades Sigma Designs (SIGM) to Buy
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Collins Stewart upgrades Sigma Designs (Nasdaq: SIGM) to Buy. Price target $20.
Collins analyst says, "We are upgrading SIGM to a BUY rating and $20 PT following a strong quarterly report and outlook. With the Company not expected to lose market share to Broadcom (Nasdaq: BRCM) in the near-term and excess inventory issues having been resolved, we believe SIGM is well-poised to benefit from growth in the IPTV market in 2009, despite a difficult macro-economic backdrop."
Sigma Designs, Inc. is a fabless provider of integrated system-on-chip (SoC), solutions that are used to deliver multimedia entertainment throughout the home.
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