Skyworks price target raised to $84 from $72 at Citi

Citi analyst Atif Malik raised the firm’s price target on Skyworks (SWKS) to $84 from $72 and keeps a Sell rating on the shares after meeting with management at CES. The firm likes that Skyworks’ China sales exposure has been “significantly de-risked” due to mix shift and local radio frequency competition. The company could regain $2 of lost content as Apple insources modem over the next three years, the analyst tells investors in a research note. That said, the stock’s valuation looks full, contends Citi.