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By: Dividend Daily
July 12, 2013 at 09:19 AM EDT
Citigroup Upgrades Xilinx to “Buy” (XLNX)
Citigroup analysts believe that Xilinx, Inc. (XLNX) is poised for substantial growth going forward, driven by the development of Chinese wireless infrastructure. As such, the analysts upgraded the programmable logic solutions provider on Friday.
The analysts upgraded XLNX to “Buy” and see shares reaching $50. This new price target suggests a 19% upside to the stock’s Thursday closing price of $41.85.
Xilinx shares were up 75 cents, or 1.79%, during pre-market trading on Friday. The stock is up 16.7% year-to-date.
The Bottom Line
Xilinx, Inc. (XLNX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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