Raymond James Upgrades MACOM After Brief 35% October Drop
Photo: TokenPost
Raymond James raised MACOM Technology Solutions to outperform from market perform Tuesday, Oct. 27, setting a $300 price target after shares briefly fell about 35% between Oct. 6 and Oct. 22. Raymond James analyst Melissa Fairbanks said the broad rotation around AI stocks was only partly justified for MACOM. She pointed to the company’s data center business, where demand had accelerated rapidly, as well as its exposure to space, defense and communications applications. Fairbanks described MACOM’s operating structure as lean. She said significant leverage could drive outsized earnings and cash-flow returns, which should bolster the company’s balance sheet.
Source: TokenPost
