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Microsemi Rising: Goldman Sees Lift from U.S. Defense Spend, Intel Chips

Shares of chip maker Microsemi (MSCC) are up 19 cents at $47.52, after Goldman Sachs’s Mark Delaney this morning raised his rating this morning to Buy from Neutral, while maintaining a $55 price target, citing multiple sources of growth for 2018.

Principle among those sources of growth is the company’s aerospace and defense business, with Microsemi having the biggest exposure to that market of any company Delaney follows, at 25% of total company revenue.

Writes Delaney, the "2018 US defense budget proposal targets a 10% YoY spending hike,” while the company’s “organic”...