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".
Published first on TheFly
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