Power Integrations (POWI) Must Be In iPhone, PT Raised to $72 at Susquehanna

Susquehanna analyst Christopher Rolland raised the price target on Power Integrations (NASDAQ: POWI) to $72.00 (from $62.00) while maintaining a Neutral rating after the company reported generally in-line results with 2Q19 guidance better than anticipated.

The analyst stated "Consistent with prior quarters, the company remains confident in a strong 2H19, largely driven by USB-PD adoption across multiple OEMs. The “pre-production” ramp begins in 2Q, with full production coming in the third quarter and beyond. We continue to believe this USB-PD win is at Apple as mathematically the iPhone is the only SKU that can provide the volume economics for the strong guided revenue ramp. That said, the economics also suggest that POWI may be second sourced (or alternatively in some, but not all, of the next lineup of handset models)".

You May Also Be Interested In

• Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Stantec Inc. (STN:CN) (STN) PT Lowered to Cdn$169 at Desjardins