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Fly News Breaks for October 11, 2017
SGH
Oct 11, 2017 | 09:21 EDT
Needham analyst Rajvindra Gill raised his price target on Smart Global to $40 following meetings with the company CFO and the head of investor relations. Gill says that despite the 47% run-up in stock price since the company's last reported earnings, he sees more upside driven by further unit growth in a globally strong memory market and favorable regulatory environment in the Brazilian mobile market. The analyst contends that Brazil's mobile market growth will remain supported by the local content increase and higher average selling prices, keeping his Strong Buy rating on Smart Global.
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