Morgan Stanley Sees Revenue Relief But Gross Margin Headwinds For Altera

In a report published Friday, Morgan Stanley analyst Joseph Moore reiterated an Overweight rating and $36.00 price target on

. In the report, Morgan Stanley noted, “Altera was in line on revenue saying wireless infrastructure remains stable, and guided only slightly below consensus, which with the setup for the quarter should be a relief. Unfortunately, mix related gross margin pressure continues to be a headwind. We see improvement from here.” Altera closed on Thursday at $35.19.