Collins Stewart Upgrades Synaptics (SYNA) to Buy; Increased Smartphone Demand in China
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Price: $104.71 --0%
Rating Summary:
10 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 17 | New: 8
Rating Summary:
10 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 10 | Down: 17 | New: 8
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Collins Stewart upgraded Synaptics (NASDAQ: SYNA) from Neutral to Buy with a price target of $40.00.
Collins analyst says, "We are upgrading SYNA given 1) Increased Smartphone demand in China; 2) Market share gains at HTC. However, we are trimming our estimates for the entire touch IC group, as we don’t anticipate healthy smartphone growth will be able to offset broader macroeconomic headwinds. Additionally, we are becoming increasingly concerned regarding pricing pressures within the touch controller market for handsets and tablets. These concerns are reflected in our lowered group valuation multiples and lowered PTs. Despite these concerns, we remain Buy-rated on the group as we still anticipate strong secular growth opportunities in touch ICs and believe the “Big Three” remains well positioned."
For more ratings news on Synaptics click here and for the rating history of Synaptics click here.
Shares of Synaptics closed at $27.49 yesterday.
Collins analyst says, "We are upgrading SYNA given 1) Increased Smartphone demand in China; 2) Market share gains at HTC. However, we are trimming our estimates for the entire touch IC group, as we don’t anticipate healthy smartphone growth will be able to offset broader macroeconomic headwinds. Additionally, we are becoming increasingly concerned regarding pricing pressures within the touch controller market for handsets and tablets. These concerns are reflected in our lowered group valuation multiples and lowered PTs. Despite these concerns, we remain Buy-rated on the group as we still anticipate strong secular growth opportunities in touch ICs and believe the “Big Three” remains well positioned."
For more ratings news on Synaptics click here and for the rating history of Synaptics click here.
Shares of Synaptics closed at $27.49 yesterday.
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