UPDATE: Baird Equity Research Upgrades Xilinx to Outperform, Raises PT on Expected Revenue Reacceleration

In a report published Thursday, Baird Equity Research analyst Tristan Gerra upgraded the rating on Xilinx XLNX from Neutral to Outperform, and raised the price target from $45.00 to $56.00. In the report, Baird Equity Research noted, “Upgrading to Outperform on expected March-Q revenue reacceleration, 28nm share gains, strong 20nm positioning, and cyclical recovery in communication (wireless but also wired). Ericsson difficult comp should disappear by calendar year-end, with Xilinx well positioned for further share gains both at the 28nm and 20nm nodes. We believe Xilinx will continue to benefit from a cyclical communication recovery, and we continue to favor companies with lower consumer exposure.” Xilinx closed on Wednesday at $46.93.