UPDATE: JPMorgan Upgrades Synaptics (SYNA) to Neutral
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JPMorgan analyst Paul Coster upgraded Synaptics (NASDAQ: SYNA) from Underweight to Neutral with a price target of $73.00 (from $52.00).
The analyst comments "Though we think the multiple remains rich, we upgrade to Neutral on the faster than expected margin step-up, and revenue acceleration, and we would not be short ahead of upcoming catalysts ahead including the TDDI LCD sale, Apple OLED Touch contribution and the analyst day in June."
Shares of Synaptics closed at $70.10 yesterday.
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