Fly News Breaks for January 16, 2020
Jan 16, 2020 | 05:12 EDT
Mizuho analyst Vijay Rakesh upgraded Synaptics to Buy from Neutral with a price target of $77, up from $46. The company's exit from the lower-margin TDDI segment should help margins, as Synaptics was participating in a "tough landscape" against Novatek, which has been taking significant share with pricing at key customers including Huawei, Rakesh tells investors in a research note. In addition, new 5G handset launches in the second half of 2020 and OLED should position Synaptics well as it supplies drivers with improving handset growth, contends the analyst. He also believes Synaptics could be well positioned for an upcoming iPhone win with touch.
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