Market Overview

UPDATE: Morgan Stanley Upgrades Spreadtrum Communications to Overweight

Share:
Related SPRD
Inside the Mind of Rod Hall – What Tech News Is JPMorgan Watching?
Spreadtrum Announces Receipt by Tsinghua Unigroup of Regulatory Approvals for Merger

Morgan Stanley raised its rating on Spreadtrum Communications (NASDAQ: SPRD) from Equal-Weight to Overweight and increased its price target from $18.31 to $24.

Morgan Stanley commented, "We are more confident on its feature phone and smartphone businesses. Our 2013e EPS is 20% above consensus, and our new US$24 price target implies 30%+ upside potential. … We lift our feature- and smart- phone unit forecasts, but lower feature phone ASP. Net/net, we now model US$842.1mn in 2013 revenues (prior US$787.5mn), and we are 20% above Bloomberg 2013e consensus GAAP EPS of US$2.23."

Spreadtrum Communications closed at $17.68 on Wednesday.

Latest Ratings for SPRD

DateFirmActionFromTo
Aug 2013Topeka CapitalDowngradesBuyHold
Aug 2013Chardan CapitalDowngradesBuyNeutral
Aug 2013JefferiesDowngradesBuyHold

View More Analyst Ratings for SPRD
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (SPRD)

Around the Web, We're Loving...