Cirrus Logic (CRUS) PT Raised to $60 at Oppenheimer Ahead of Print

October 26, 2016 9:25 AM EDT
Get Alerts CRUS Hot Sheet
Price: $58.25 +4.77%

Rating Summary:
    12 Buy, 5 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade CRUS Now!
Join SI Premium – FREE

Find out which companies are about to raise their dividend well before the news hits the Street with's Dividend Insider Elite. Sign-up for a FREE trial here.

Oppenheimer analyst Rick Schafer raised his price target on Cirrus Logic (NASDAQ: CRUS) to $60.00 (from $50.00) ahead of Q2 results on 10/27.

commented, "CRUS reports F2Q (Sept) results Thursday 10/27. We see upside to our above-consensus sales/EPS of $400M/$1.08 as iP7 content gains magnify better iPhone sales. We estimate CRUS saw a ~70% content bump in the iP7, gaining a headset codec and additional audio amp. More important, we believe CRUS content could potentially be up another $2.00 in the 2017 iPhone refresh. MEMS mics and a 1B-plus unit headset market help support and add additional layers to the growth story. Though highly leveraged to the choppy smartphone market, and AAPL in particular, CRUS offers a compelling content-driven growth story over the near/mid-term, in our view. We remain buyers here and are raising our PT from $50 to $60."

For an analyst ratings summary and ratings history on Cirrus Logic click here. For more ratings news on Cirrus Logic click here.

Shares of Cirrus Logic closed at $53.74 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Add Your Comment