Maxim Integrated (MXIM) PT Raised to $34 at RBC Capital

RBC Capital analyst Doug Freedman reiterated a Outperform rating and boosted his price target on Maxim Integrated Products (NASDAQ: MXIM) to $34.00 (from $32.00) in conjunction with the firm's 2015 Semiconductor Outlook.

Freedman commented, "In the outlook, we estimate a SOX target of 810, representing a ~16% upside from today's levels. This compares to a ~12% return for the S&P500 as estimated by our Chief U.S. Market Strategist, Jonathan Golub. As a result of our continued bullishness, we are adjusting our company price targets for over half of our covered companies to maintain the average return of our coverage universe close to 16%. We note that we are not adjusting any financial models at this point in time, and will be publishing an earnings outlook for January reporting companies soon. We may adjust estimates at that point in time."

The firm's $34 price target is based on 16.0x CY2016 FCF/share estimate of $1.94 plus $2.80 in 2016 net cash per share.

For an analyst ratings summary and ratings history on Maxim Integrated Products click here. For more ratings news on Maxim Integrated Products click here.

Shares of Maxim Integrated Products closed at $31.64 yesterday.

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