Qorvo price target raised to $90 from $80 at Loop Capital

Loop Capital analyst Gary Mobley raised the firm’s price target on Qorvo (QRVO) to $90 from $80 but keeps a Hold rating on the shares after its Q3 earnings beat. The company’s outlook is consistent with a more muted backdrop iPhone demand as well as for smartphones in general, and aside from Starboard potentially influencing some idiosyncratic structural changes, the firm does not see a catalyst for the shares at this time, the analyst tells investors in a research note.