UPDATE: Northland Capital Markets Upgrades Power Integrations (POWI) to Outperform
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(Updated - July 30, 2021 6:49 AM EDT)
Northland Capital Markets analyst Gus Richards upgraded Power Integrations (NASDAQ: POWI) from Market Perform to Outperform with a price target of $99.00.
The analyst commented, "We have underestimated POWIs market share gains and the sustainability of share gains in the phone charger market. We are lifting our estimates substantially and modeling normal seasonality for POWI after Q3 as share gains insulate it from an inventory correction. Also, POWI's OP margin was 31% in Q2:21 above 5 year average of 19% we believe OP margin is sustainable in the high 20s. Upgrading to OP and increase our PT to $99."
Shares of Power Integrations closed at $85.01 yesterday.
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