Fly News Breaks for February 4, 2016
Feb 4, 2016 | 07:00 EDT
Citi analyst Atif Malik calls Silicon Laboratories (SLAB) an attractive acquisition target after the company beat Q4 earnings expectations. He contends Silicon would garner a 15% premium to peer Atmel's (ATML) takeout price. If Atmel is worth $8.15 per share, Silicon Laboratories is worth $50, Malik tells investors in a post-earnings research note. He lowered his price target for Silicon to $50 from $58 and keeps a Buy rating on the name.
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