Citigroup has maintained its "Buy" rating for Microchip Technology (MCHP, Financial), while raising the price target to $90.00 from the previous $68.00. This adjustment by analyst Christopher Danely represents a 32.35% increase in the target price.
The current recommendation underscores continued confidence in Microchip Technology's (MCHP, Financial) performance potential, as evidenced by the maintained "Buy" rating. The revision reflects a positive outlook for the stock, aiming to align with its projected growth trajectory.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for Microchip Technology Inc (MCHP, Financial) is $67.87 with a high estimate of $85.00 and a low estimate of $50.00. The average target implies an downside of 5.17% from the current price of $71.57. More detailed estimate data can be found on the Microchip Technology Inc (MCHP) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Microchip Technology Inc's (MCHP, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Microchip Technology Inc (MCHP, Financial) in one year is $50.49, suggesting a downside of 29.45% from the current price of $71.57. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Microchip Technology Inc (MCHP) Summary page.
