Raymond James analyst Srini Pajjuri upgraded Lattice Semiconductor to Outperform from Market Perform with a $50 price target. The analyst believes the cyclical correction is largely behind the company and expects upward earnings revisions to start in the next two quarters. Lattice’s Industrial and Auto segment declined 50% year-over-year in Q2, but Raymond James expects a gradual recovery on inventory normalization even if end demand is mixed. It believes the recent pullback presents an “excellent opportunity” to buy the shares.
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