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Fly News Breaks for February 6, 2018
SWKS
Feb 6, 2018 | 08:28 EDT
As reported earlier, BMO Capital analyst Ambrish Srivastava upgraded Skyworks to Outperform from Market Perform and raised his price target to $120 from $100. The analyst cites the company's "ability to sustain a higher level of free cash flows to sales ratio than in the past and its commitment to higher capital allocation". Srivastava also points to attractive valuation for Skyworks, with the stock trading at a 11-times FY19 EPS estimate vs. 13-times for its peer group.
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