Microchip Technology Incorporated (NASDAQ:MCHP) saw its price target raised to $85.00 by Piper Sandler analyst Harsh Kumar, who maintains an Overweight rating. Kumar believes 2026 looks positive for MHCP, with strengthening order momentum. Recovery seems broad-based, driven by industrial and stabilizing automotive sectors. Potential revenue catalysts include new AI data center parts benefiting Microchip. The company develops smart, connected, secure embedded control solutions across various markets. While MCHP offers investment potential, other AI stocks may have greater upside. For more information, check out our report on the best short-term AI stock.

Read more at Yahoo Finance: Piper Sandler Raises Microchip (MCHP) Target to $85, Calls It Top Mid-Cap Pick