Information Provided By:
Fly News Breaks for June 26, 2018
CY
Jun 26, 2018 | 09:04 EDT
Piper Jaffray analyst Harsh Kumar reiterated an Overweight rating and $22 price target on Cypress Semiconductor after hosting investor meetings with Cypress CEO Hassane El-Khoury and CFO Thad Trent, telling investors in a research note that he remains confident in the long-term trajectory of the company. Kumar believes there are several revenue catalysts in place, and given the company's positioning in automotive, IoT, connectivity, and USB-C, the company is in a "sweet spot" for growth. Additionally, Cypress remains on-track with its margin targets, and in our opinion, there are additional margin levers left in the company's arsenal. Given the company's long-term profile, Kumar believes there is also potential for multiple expansion.
News For CY From the Last 2 Days
There are no results for your query CY