Goldman Sachs Upgraded Microchip Technology (MCHP) to Neutral
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Goldman Sachs upgraded Microchip Technology Inc. (Nasdaq: MCHP) from Sell to Neutral, saying multiple has compressed, opportunity for share gains.
The firm notes: shares of MCHP have underperformed peers, has begun to show progress in addressing gaps in its product portfolio, and changes in the competitive landscape are improving Microchip’s near term prospects.
The firm raised their price target from $22 to $24.
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