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Fly News Breaks for August 9, 2019
SYNA
Aug 9, 2019 | 07:02 EDT
JPMorgan analyst Paul Coster downgraded Synaptics to Underweight from Neutral and lowered his price target for the shares to $25 from $35. The company's initial fiscal 2020 guidance points to a material decline in revenues owing to Mobile weakness and restrictions on key customer Huawei, Coster tells investors in a post-earnings research note. He believes Synaptics' newly appointed CEO has a tough job ahead and wants to a "path to stabilization" before turning to the shares.
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