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Qorvo upgraded to Overweight from Equal Weight at Morgan Stanley
The Fly

Qorvo upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Joseph Moore upgraded Qorvo (QRVO) to Overweight from Equal Weight with a price target of $106, up from $90. Qorvo has struggled to achieve its margin targets, but the activist influence “could inject some urgency,” the analyst tells investors in a research note. The firm sees the potential for $9.50-plus in sustained earnings per share power if fundamental changes result. The activist firm’s involvement could unlock further value via potential strategic changes at the company, contends Morgan Stanley.

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