Skyworks price target lowered to $87 from $117 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Skyworks (SWKS) to $87 from $117 and keeps an Equal Weight rating on the shares. The firm expects lower growth from Broad Markets in 2025, as inventory in auto/ industrial and wireless infrastructure remains high, and sees higher operating expenses weighing on earnings for 2025. Recent Apple (AAPL) content has been disappointing, but there is optimism that they can get back on track next year, says the analyst, who adds that there is “value here if they can recover Apple content, but that remains to be seen.”