7/102 sources · 2 publishersUpdated Oct 8, 22:13 UTC
B. Riley upgrades Skyworks Solutions to Buy and raises price target to $107
B. Riley Securities changed its rating on Skyworks Solutions (SWKS) from Neutral to Buy and lifted its price target from $68 to $107. The firm noted cost synergies from Skyworks' recent Qorvo acquisition and expanding demand for wireless applications. At the time of the upgrade, Skyworks was trading at $83.91 per share.
Why it matters
B. Riley expects the new target implies about 27.5% upside from the recent close, suggesting potential upside for investors who hold the stock.
Key facts
- 1B. Riley upgraded Skyworks Solutions to Buy from Neutral. marketscreener.com
- 2The price target was raised to $107 from $68. marketscreener.com
- 3Skyworks was trading at $83.91 per share. marketscreener.com
- 4B. Riley cited cost synergies from the Qorvo acquisition and growth in wireless applications as reasons for the upgrade. tradingview.com
- 5The $107 target implies a 27.5% upside from the Oct 5 close. tradingview.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.