Monolithic Power price target raised to $799 from $789 at Truist

Truist raised the firm’s price target on Monolithic Power to $799 from $789 and keeps a Buy rating on the shares. The company delivered solid upside to Q1 results and Q2 guidance from ongoing strength in AI applications across a still broadening customer base, the analyst tells investors in a research note. AI is driving the upside, while the company’s other end markets are still bottoming, providing a better setup for growth over the next one or more years, the firm added.