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In a report published on Tuesday, Piper Jaffray analyst Auguste Gus Richard upgraded Freescale Semiconductor (NYSE: FSL) from Neutral to Overweight and increased the price target from $15 to $18 .
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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In the report, Piper Jaffray noted, "We are raising our revenue estimates slightly this year and next. Additionally, we are also increasing our gross margin assumption driven by higher factory utilization as well as an improving mix of high margin RF and networking revenue. We also believe that further upside to our earnings estimates exists as FSL restructures its debt and thus lowers its interest expense.".
Freescale closed on Monday at $13.73.