Credit Suisse upgraded Silicon Laboratories (SLAB
) to outperform from neutral, explaining that the share prices have room for even more growth as new products gain traction.
Analyst Randy Abrams says that new products will expand the company's market through 2008 from $9.6 billion to $16 billion. He thinks such growth could drive more than $3 earnings per share (EPS) power by 2008, with share gains across all products driving it over $4. He raises his $50 stock price target to $65.