Cypress Semiconductor Corporation (CY) Primed for a Move Up in 2017: Top Analyst
Mizuho top analyst Vijay Rakesh believes that Cypress Semiconductor Corporation (NASDAQ: CY) is “primed for a move up in 2017” and has reiterated his Buy rating on the semiconductor company.
Despite being one of the stocks “in the semi [conductor] universe that did not have a substantial move in 2016,” improving industrial and automotive industries and continued tax breaks in China should all position Cypress for a better 2017, Rakesh asserted in a research report today. Rakesh also noted that Cypress could stand to benefit from potential U.S. corporate tax cuts post-election.
Rakesh suggests a price target for Cypress of $15, marking a 28% upside from the current share price. TipRanks analytics show a predominantly bullish sentiment for the stock, with Rakesh’s price target slightly ahead of the 12-month average price target on TipRanks of $13.86.
Rakesh is a top five-star rated analyst, according to TipRanks‘ financial accountability engine, where has achieved a standing of #9 out of 4,290 analysts. Rakesh has a success rate of 77% as well as an impressive average return of 29.5%.