BofA raised the firm’s price target on Qorvo (QRVO) to $68 from $65 and keeps an Underperform rating on the shares. While “encouraged” by progress in mobile, HPA, and margin expansion efforts, the firm also notes Qorvo’s high exposure to an ex-growth smartphone market that could be most vulnerable to demand destruction. The firm raised its FY26 and FY27 pro-forma EPS estimates by 6% and 8%, respectively, but reiterates an Underperform rating given structural challenges and significant macro uncertainty.
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