In a report published Monday, D.A. Davidson analyst Thomas Diffely upgraded the rating on Qorvo, Inc. QRVO from Neutral to Buy, and raised the price target from $70.00 to $100.00.
In the report, D.A. Davidson noted, "We are increasing our rating on shares of QRVO to BUY (from Neutral) and raising our price target to $100 (from $70), reflecting our incrementally more positive view on a continued revenue and earnings ramp over the next few years driven, in large part, by the ongoing 4G LTE ramp in China."
Qorvo closed on Friday at $72.57.
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