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Fly News Breaks for January 30, 2020
Jan 30, 2020 | 08:11 EDT
Raymond James analyst Chris Caso raised his price target for Qorvo to $135 from $98 and reiterated an Outperform rating after the company posted a "strong" quarter with "much better" than seasonal guidance on 5G strength in China, consistent with commentary from others. Virus concerns aside, Caso says Qorvo's 5G content story remains compelling, the stock's valuation remains reasonable despite recent gains, and he sees a path to higher earnings power, particularly as the high volume handset tier converts to 5G.