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Fly News Breaks for January 29, 2018
CY
Jan 29, 2018 | 06:11 EDT
Piper Jaffray analyst Harsh Kumar raised his price target for Cypress Semiconductor to $22 from $20 while laying out his long-term positive thesis on the shares. The analyst is confident in the long-term trajectory of Cypress, saying he sees "several revenue catalysts, margin levers, and a compelling valuation." He believes Cypress's exposure to automotive, Internet of Things, connectivity, and USB-C puts it in a "sweet spot" for revenue growth. Kumar sees potential for multiple expansion and reiterates an Overweight rating on the stock.
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