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Fly News Breaks for June 2, 2015
XLNX
Jun 2, 2015 | 09:14 EDT
CLSA analyst Srini Pajjuri raised Xilinx's (XLNX) price target to $54 from $46 following Intel's (INTC) acquisition of Altera (ALTR). Pajjuri believes Xilinx will be the primary FPGA vendor for the ARM server market now that Altera is gone, making it a potential M&A target. The analyst also expects Xilinx to be the only FPGA vendor with integrated ARM support for the fast-growing auto market. Pajjuri believes Xilinx deserves a higher multiple with or without M&A and keeps an Outperform rating on the shares.
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