Qorvo Could Achieve $9.63 EPS By 2026 With Activist Involvement, Morgan Stanley Upgrades Stock
Morgan Stanley analyst Joseph Moore upgraded Qorvo, Inc. (NASDAQ:QRVO) to Overweight from Equal-Weight, raising the price forecast to $106 from $90.
Moore notes that he has seen value in Qorvo stock and attempted to capture it through upgrades, but the results have been only modest.
The analyst also highlighted challenges in the radio frequency space, particularly with pressure on the Chinese business, which increases concentration in other areas.
Per Moore, while the radio frequency market served by high-performance companies like Broadcom, Skyworks Solutions, and Qorvo will continue to grow, it will remain highly concentrated, primarily driven by high-end global phones.
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