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Fly News Breaks for August 2, 2019
QRVO
Aug 2, 2019 | 08:49 EDT
Craig-Hallum analyst Anthony Stoss raised his price target for Qorvo to $85 from $75 and maintained a Buy rating after the company's quarterly results came in above estimates due to Huawei post-ban shipments into the mobile market as well as content growth at Samsung in both their premium and mid-tier phones. In a research note to investors, Stoss says he continues to like Qorvo's 5G opportunity next year and thinks it will allow the company to return to year-over-year growth despite the absence of Huawei infrastructure revenues.
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