Fly News Breaks for February 7, 2020
Feb 7, 2020 | 06:08 EDT
JPMorgan analyst Paul Chung upgraded Synaptics to Neutral from Underweight with a price target of $73, up from $52. The company posted fiscal Q2 results well above expectations, with gross and operating margins hitting multi-year highs, Chung tells investors in a research note. Further, its Q3 guide points to sustainable momentum, and its path to and sustainability of 45%-plus gross margins "seems very achievable," contends the analyst. He cites Synaptics' "impressive" margin performance and h better than expected sales growth for the year for the upgrade to Neutral.
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