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Fly News Breaks for January 11, 2016
MLNX
Jan 11, 2016 | 07:30 EDT
Credit Suisse analyst John Pitzer upgraded Mellanox (MLNX) to Outperform from Neutral with a $50 price target on shares. Pitzer sees multiple catalysts to drive shares higher that include core interconnect IP supporting a LT Rev CAGR of 15-20%, new growth opportunities with Spectrum and EZchip (EZCH) which could increase LT Rev CAGR to 20-25%, overdone concerns regarding (INTC) as a new entrant, and compelling valuation.
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