Deutsche Bank Upgrades Power Integrations (POWI) to Buy; Medicine Taken

Deutsche Bank upgraded Power Integrations (NASDAQ: POWI) from Hold to Buy, price target raised by $1 to $36.

Deutsche analyst says, "We are upgrading POWI to a Buy rating as we believe the company has taken its "macro medicine" by lowering its revenue outlook, addressing its excess inventory and delivering trough GM. While macro uncertainty remains high for the group as a whole we remain believers in POWI's LT ability to outgrow its semi peers and as rev/margin growth resumes we expect the shares to appreciate from the current depressed valuation level."

For more ratings news on Power Integrations click here and for the rating history of Power Integrations click here.

Shares of Power Integrations closed at $31.41 yesterday.

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