Barclays Raises PT on EZchip Semiconductor (NASDAQ: EZCH) to $48; Buy on Pullback

Barclays maintains an 'Overweight' on EZchip Semiconductor (NASDAQ: EZCH) price target raised from $38 to $48.

Analyst, Joseph Wolf, said, "While carrier capex is muted, companies well positioned for future spending are doing well. We raise our EZCH PT to $48 as we see the company exiting 2013 with an EPS run rate of $2.20. The NP-4 product is poised to accelerate as data traffic growth drives the deployment of the next wave of edge routers. While we could see short-term profit-taking, we would see the stock as even more attractive in the event of any pullbacks."

For an analyst ratings summary and ratings history on EZchip Semiconductor click here. For more ratings news on EZchip Semiconductor click here.

Shares of EZchip Semiconductor closed at $43.70 yesterday.

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