SMART Global Holdings (SGH) PT Raised to $55 at Stifel
- Tech stocks push S&P 500 to record close, buoy Nasdaq
- U.S. Calls for Pause of J&J (JNJ) Vaccine After Clotting Cases, Including One Death
- Coinbase (COIN) direct listing IPO reference price set at $250
- Biggest SPAC Deal Ever: Grab To Go Public in a $40 Billion Merger With Altimeter (AGC), Backed by Fidelity and BlackRock
- Oil rises after robust China data but J&J vaccine pause weighs
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Stifel analyst Brian Chin raised the price target on SMART Global Holdings (NASDAQ: SGH) to $55.00 (from $48.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating on SMART Global Holdings, which we believe is undergoing an identity shift under CEO Mark Adams. Less than six months in, we believe Mr. Adams is already instilling a “big company” operating mentality at SMART, while infusing the company with renewed focus, talent and leadership. As a direct byproduct of this, we believe SMART is poised to improve the growth profile and margin structure of the company both in the near and longer-term. Looking to become a more diversified, best-in-class operator within each of its served markets, SMART’s notable recent moves include: 1) Injecting capital and structure into its growth-oriented high-performance compute (HPC) business, and 2) Revitalizing an under-addressed asset in Cree’s LED business. Yet at 10.6x our CY22 EPS (8.9x including projected accretion from LED), we believe these ongoing actions remain under-recognized, for now."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Monster Beverage (MNST) PT Raised to $110 at Stifel
- Air Canada (AC:CN) (ACDVF) PT Lowered to Cdn$29 at TD Securities
- Topaz Energy (TPZ:CN) (TPZEF) PT Raised to Cdn$18 at TD Securities
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!