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Fly News Breaks for June 4, 2019
IFNNY, CY
Jun 4, 2019 | 07:38 EDT
SunTrust analyst William Stein raised his price target on Cypress Semiconductor (CY) to $23.85 after its proposed acquisition by Infineon (IFNNY) at that price. The analyst says the proposed valuation looks "full" at 4.6-times Cypress Semi's next-twelve-months' expected sales and 18.7-times expected EBITDA. Stein adds that the emergence of other "over the top" bidders is unlikely and the possibility of anti-trust regulatory concerns in the deal is "limited."
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