UPDATE: D.A. Davidson Upgrades Qorvo On Increasingly Bullish View Of Multi-Year Growth Drivers

In a report published Monday, D.A. Davidson analyst Thomas Diffely upgraded the rating on

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.