Evercore ISI initiated coverage of Macom with an Outperform rating and $120 price target. The company is a key supplier of specialty analog/RF chips that stands to benefit from industry consolidation and ongoing turnaround and margin expansion, the analyst tells investors in a research note, also citing Macom management team that has an “excellent history of execution”. Macom is also well positioned for potential additional tailwinds related to Aerospace and Defense given military conflicts of late, the firm added.
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