Susquehanna Downgrades Fairchild Semi (FCS) to Neutral

Susquehanna downgraded Fairchild Semi (NASDAQ: FCS) from Positive to Neutral citing valuation as the stock has neared their $19 price target with no immediate catalyst to take estimates higher.

Analyst Chris Caso comments, "We had initiated with a Positive rating in October 2012, and since then the business has made good progress, and the company had laid out a plan to improve margins further over the next 18-24 months. But the effect of that margin improvement is now largely reflected in our and consensus estimates, and we believe the stock is fairly valued assuming the 11% annual operating margins we expect for next year."

For an analyst ratings summary and ratings history on Fairchild Semi click here. For more ratings news on Fairchild Semi click here.

Shares of Fairchild Semi closed at $17.74 yesterday.

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