Why Littelfuse Shares Jumped 11% Today
Shares of Littelfuse (NASDAQ: LFUS) closed Monday's trading 11.3% higher. The maker of automotive sensors and electric circuit protection components was the subject of a bullish analyst report today.
Analyst firm Baird raised its price target on Littelfuse from $152 to $155 per share, maintaining an outperform rating on the stock. Baird analyst David Leiker argued that the company entered the second quarter at "trough levels" for product demand, revenue, and profit margins. As such, all of these metrics should bounce back in the coming quarters.
Image source: Getty Images.
Source Fool.com
