Deutsche Bank Upgrades Skyworks Solutions (SWKS) to Buy; Worst News Is Priced In, Long-term Trends Look More Positive

Deutsche Bank upgraded Skyworks Solutions (NASDAQ: SWKS) from Hold to Buy, price target raised to $23.00.

Deutsche analyst says, "We think the market has overdone its punishment of Skyworks. The stock is off 37% in the past two months on little hard news. We think the company’s share position in the industry remains strong and transitions to 3G and 4G networks should boost prospects in 2012 and beyond. We are revising our estimates to reflect worst case possibilities which we think should prove conservative."

For an analyst ratings summary and ratings history on Skyworks Solutions click here. For more ratings news on Skyworks Solutions click here.

Shares of Skyworks Solutions closed at $14.04 yesterday.

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