KeyBanc analyst John Vinh raised the firm’s price target on Cirrus Logic (CRUS) to $120 from $110 and keeps an Overweight rating on the shares as results from the monthly carrier survey and Key First Look Data indicate better-than-seasonal sell-through of Apple (AAPL) iPhones during January benefiting from improving supply and pent-up demand for iPhone Pro/Max due to November/December shortages. KeyBanc views these results as encouraging given indications of durable post-holiday demand and as moderately positive for the Apple supply chain.
Published first on TheFly
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