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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