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Fly News Breaks for February 7, 2019
MCHP
Feb 7, 2019 | 08:02 EDT
Citi analyst Christopher Danely raised his price target for Microchip Technology to $105 and reiterates a Buy rating on the shares following the company's fiscal Q3 results. The analyst continues to believe the company's business is bottoming "given downside is decreasing and Microchip is shipping below consumption." Further, management highlighted that a resolution of China trade would be a "bonanza" to business, he points out.
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