Courtesy of Benzinga.
In a report published Wednesday, Sterne Agee analyst Vijay Rakesh reiterated a Buy rating on Cypress Semiconductor Corporation (NASDAQ: CY), and raised the price target from $13.00 to $18.00.
In the report, Sterne Agee noted, “We take a deeper look at the CY-CODE merger. With CODE bringing 8″-30K wpm capacity (only 70% utilized), ~4x the capacity of CY-6″-16Kwpm (or 8kwpm of 8″) and leading 60nm node, a big footprint in Japan and scale in Autos to CY, we see a long-term constructive road map for CY. Our DCF is attached. Reiterating CY-Buy and raising PT to $18. A semis-deep dive into the significant CY synergies is below.”
Cypress Semiconductor closed on Tuesday at $12.93.
Latest Ratings for CY
Date | Firm | Action | From | To |
---|---|---|---|---|
Dec 2014 | Sterne Agee | Maintains | Buy | |
Dec 2014 | Credit Suisse | Maintains | Neutral | |
Dec 2014 | Needham | Upgrades | Hold | Buy |
View More Analyst Ratings for CY
View the Latest Analyst Ratings
Posted-In: Sterne Agee Vijay RakeshAnalyst Color Price Target Analyst Ratings