Littelfuse Inc (LFUS) PT Raised to $520 at Needham

Needham analyst David Williams raised the price target on Littelfuse Inc (NASDAQ: LFUS) to $520.00 (from $450.00) while maintaining a Buy rating.

The analyst commented: "LFUS delivered solid 1Q results with upside to guidance, as earnings continue to strengthen with the recovery firming and strategic initiatives beginning to materialize. We believe the data center opportunity is accelerating ahead of expectations while revenue leverage and margin expansion increase confidence in earnings durability as the cycle matures. The Analyst day should be a N/T catalyst and expect the company to introduce its five-year targets, outline a L/T operating model, and clarify LFUS’s participation across secular growth vectors, including grid modernization and data center power infrastructure. With our thesis intact and earnings power accelerating, we raise our price target to $520, reflecting 31x FY27E EPS, or 28x our newly introduced and conservative FY28E estimate and see further upside as estimates move higher."

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