Vimicro International "outperform," target price raised

03/14/06 - Piper Jaffray

NEW YORK, March 14 (newratings.com) - Analyst Tore E Svanberg of Piper Jaffray reiterates his "outperform" rating on Vimicro International Corporation (VIMC). The target price has been raised from $13 to $16.

In a research note published yesterday, the analyst mentions that the company is likely to post its results for the March quarter in-line with the estimates. The performance of Vimicro International's PC Camera segment is expected to be driven by the rising adoption of the video-over-broadband service going forward, the analyst adds. The upward revision in the target price reflects the company's robust growth trends, Piper Jaffray says.