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Fly News Breaks for July 26, 2016
CRUS
Jul 26, 2016 | 07:35 EDT
Oppenheimer analyst Rick Schafer raised his price target for Cirrus Logic to $45 from $40 ahead of results. The analyst believes content gains could continue through 2017 driving earnings power of more than $4. While highly leveraged to a "stalling" smartphone market, the company offers a "compelling" content-driven growth story over the near/mid-term, Schafer tells investors in a research note. He reiterates an Outperform rating on the shares.
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