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Fly News Breaks for March 14, 2019
CY
Mar 14, 2019 | 09:15 EDT
MKM Partners analyst Ruben Roy raised his price target on Cypress Semi to $18 and kept his Buy rating after its Analyst Day presentation yesterday. The analyst says the company's focus on Internet of Things and Automotive markets position it for above-market growth rates, with the management presentation offering a "good look into various examples and company specific differentiation" that should support its forecasts. Roy adds that the company's increase in longer-term gross margin forecasts and attractive valuation warrant a price target increase.
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