UPDATE: JPMorgan Upgrades MACOM Technology Solutions (MTSI) to Neutral
JPMorgan analyst Harlan Sur upgraded MACOM Technology Solutions (NASDAQ: MTSI) from Underweight to Neutral with a price target of $62.00 (from $52.00).
The analyst comments "We are upgrading MTSI from Underweight to Neutral given the YTD underperformance in the stock versus the group and current price that is within 5% of our street low price target amidst a fundamental outlook in 2H21 and into 2022 that is strong. Fundamental outlook in 2H21 and into 2022 is strong in its core telco, cloud, and aerospace and defense markets and a few key product cycle drivers that could drive further
upside to our revenue/EPS estimates."
Shares of MACOM Technology Solutions closed at $53.91 yesterday.
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