Truist raised the firm’s price target on Monolithic Power to $994 from $918 and keeps a Buy rating on the shares. The firm is citing its recent meeting with the company’s management while adjusting its end market growth expectations to better align with the management’s commentary, the analyst tells investors in a research note. Truist adds that it sees the strong overall Q3 revenue outlook as related to previously-awarded design wins in client compute and comms, adding that the muted Q3 outlook for Enterprise Data is more likely related to channel inventory adjustments than to share adjustments.
