Why Monolithic Power Systems Rallied Today

Shares of Monolithic Power Systems (MPWR 5.32%) rallied hard today, up 5% as of 3:15 p.m. ETMonolithic was beaten down in November on fears of market share losses in its high-growth artificial intelligence (AI) segment. However, with shares down 35% from their recent highs, Monolithic found one more defender on Wall Street today.Citi initiates with a buyToday, Citigroup initiated coverage on Monolithic with a buy rating, giving the stock a $700 price target. That's 17.6$595 share ...