BMO Capital analyst Ambrish Srivastava raised the firm’s price target on Synaptics to $135 from $90 but keeps a Market Perform rating on the shares. The company’s Q2 results and outlook missed expectations but still "faired relatively well" given the tough environment, the analyst tells investors in a research note. The firm also cites Synaptics guiding better margins despite the lower Internet of Things revenue. BMO notes however that the stock looks "reasonably valued at these levels".
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Published first on TheFly
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