Qorvo price target raised to $90 from $80 at Wells Fargo

Wells Fargo analyst Gary Mobley raised the firm’s price target on Qorvo (QRVO) to $90 from $80 and keeps an Equal Weight rating on the shares. The analyst notes that the discount relative to the rest of the chip sector may be a permanent fixture in the valuation consideration for Qorvo given the company’s high exposure to smartphones and Apple (AAPL).