There’s a lot to be optimistic about in the Technology sector as 3 analysts just weighed in on Ciena (CIEN), Microchip (MCHP) and First Solar (FSLR) with bullish sentiments.
Ciena (CIEN)
Raymond James analyst Simon Leopold maintained a Buy rating on Ciena yesterday and set a price target of $50.00. The company’s shares closed last Wednesday at $41.43.
According to TipRanks.com, Leopold is a 4-star analyst with an average return of 6.5% and a 55.9% success rate. Leopold covers the Technology sector, focusing on stocks such as Telefonaktiebolaget LM Ericsson, Hewlett Packard Enterprise, and CommScope Holding.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ciena with a $54.08 average price target, which is a 29.2% upside from current levels. In a report issued on September 3, Rosenblatt Securities also maintained a Buy rating on the stock with a $55.00 price target.
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Microchip (MCHP)
In a report released today, Chris Caso from Raymond James maintained a Buy rating on Microchip. The company’s shares closed last Wednesday at $103.57.
According to TipRanks.com, Caso is a 5-star analyst with an average return of 11.5% and a 55.1% success rate. Caso covers the Technology sector, focusing on stocks such as NXP Semiconductors, Skyworks Solutions, and SiTime Corporation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Microchip with a $122.55 average price target, representing a 17.6% upside. In a report issued on September 9, Rosenblatt Securities also reiterated a Buy rating on the stock with a $130.00 price target.
First Solar (FSLR)
In a report released yesterday, Pavel Molchanov from Raymond James reiterated a Buy rating on First Solar. The company’s shares closed last Wednesday at $71.96.
According to TipRanks.com, Molchanov is a 4-star analyst with an average return of 4.8% and a 54.1% success rate. Molchanov covers the Utilities sector, focusing on stocks such as Petroleo Brasileiro SA- Petrobras, Maxeon Solar Technologies, and Nextera Energy Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for First Solar with a $71.33 average price target.
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