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Fly News Breaks for January 29, 2020
Jan 29, 2020 | 09:06 EDT
BMO Capital analyst Ambrish Srivastava lowered his price target on Xilinx to $90 and kept his Market Perform rating, noting that while the company beat Q3 earnings, until this quarter it has not announced a "meaningful" reduction in workforce since the global financial crisis. The analyst cites the company's response to the "much lower" demand environment, which the management does not expect to reverse any time soon. Srivastava adds that Xilinx remains "uniquely positioned", but its current valuation is reasonable.
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