The analyst firm raised its price target for Himax to $20 from $17.50 while maintaining its "outperform" rating for the stock. The raise price increase is due to early channel checks that indicate the first quarter is tracking in line or better than the company's current estimates.
Analyst Tom Sepenzis sees strength in the company's large panel display drivers, small-to-medium display drivers, and image sensors among other products. "We are raising our target price to reflect both the near-term performance, as well as a number of new growth drivers entering the mix," the analyst wrote.
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TheStreet Ratings team rates HIMAX TECHNOLOGIES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HIMAX TECHNOLOGIES INC (HIMX) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."