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Fly News Breaks for September 20, 2016
CRUS
Sep 20, 2016 | 07:54 EDT
Canaccord analyst Matthew Ramsay raised his price target on Cirrus Logic to $65 from $56 after meeting with management. He believes the company's content in the iPhone 7 increased by 70% versus the iPhone 6s. The analyst noted investors concern that this could mark an earnings peak, but he disagrees, citing the company's leading portfolio of audio codec, amplifier, and MEMS microphone products, all of which could lead to significant growth opportunities. Ramsay reiterated his Buy rating on Cirrus Logic shares.
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