DA Davidson upgrades Skyworks Solutions (SWKS) to Buy
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DA Davidson upgrades Skyworks Solutions Inc. (Nasdaq: SWKS) from Neutral to Buy and raises their price target from $8 to $10, citing increasing momentum and expanding margins.
The firm said, "we believe the company will be able to offset any Sony Ericsson related revenue losses with the continued ramp of sales to Nokia (NOK), and 2H'08 wins with Research In Motion (RIMM)."
The firm also said increasing FEM sales combined with steady revenue from the company's Linear segment should lead to improving margins. [LJ]
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