Mizuho Securities Upgrades Synaptics (SYNA) to Buy
- Global stocks sag as bond 'bloodbath' shows no sign of letting up
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Mizuho Securities upgraded Synaptics (NASDAQ: SYNA) from Neutral to Buy with a price target of $74.00 (from $54.00), saying 2017 TDDI could provide an OLED offset.
Analyst Vijay Rakesh commented, "While SYNA has underperformed the SOX with 1H16 iPhone headwinds, we believe 2017 is looking better with TDDI ramps that could add an incremental 50-100M units of accretive ASP/margin and offset some C2H17 OLED drag. SYNA still lags on Fingerprint sensors and the OLED roadmap, potentially losing the high end OLED iPhone for 2017. But SYNA is a leader in touch, and with TDDI could see some accretive upside to depressed estimates as multiple handset OEMs ramp. Upgrading to Buy and raising our 2H17 and F18E estimates; our PT goes to $74 from $58."
Shares of Synaptics closed at $65.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- PAREXEL (PRXL) PT, Estimates Lowered at Evercore ISI
- F5 Networks (FFIV) PT Raised to $120 at Jefferies
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!