UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on Synaptics Following Management Meeting

In a report published Monday, J.P. Morgan analyst Paul Coster reiterated an Overweight rating on Synaptics SYNA, and raised the price target from $42.00 to $44.00. In the report, Coster noted, “Following our meeting with management last week, we believe SYNA is well positioned to achieve double-digit growth through FY14 owing to a strong touch-solutions line-up in the handset market, and higher value solutions in the PC market. We believe upside, relative to consensus estimates, will be fueled in part by design wins at Samsung and Blackberry. We are raising our estimates again, and we are raising our Price Target to $44.00.” Synaptics closed on Friday at $38.50.