Drexel Hamilton Remains Bullish on Qorvo Inc (QRVO); Says Pull-Back Creates Buying Opportunity

Drexel Hamilton reiterated a Buy rating and $63.00 price target on Qorvo Inc (NASDAQ: QRVO) following increasingly negative sentiment. The basic premise of recent reports downgrading the company has largely been centered around the slowing of growth in smartphones, and further anticipated volume disappointments from Apple. Drexel Hamilton believes that these issues are not new, and that the recent pull-back creates a buying opportunity.

Analyst Cody Acree commented, "As we believe the recent rash of negative notes are not offering any real news, we believe the pull-back and the growing negative Street sentiment is creating a significant opportunity, where even in-line earnings and guidance will likely become a material catalyst for these stocks."

For an analyst ratings summary and ratings history on Qorvo Inc click here. For more ratings news on Qorvo Inc click here.

Shares of Qorvo Inc closed at $51.82 yesterday.

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