Cirrus Logic price target raised to $120 from $112 at Stifel

Stifel analyst Tore Svanberg raised the firm’s price target on Cirrus Logic (CRUS) to $120 from $112 and keeps a Buy rating on the shares following what the firm calls “another solid beat & raise.” The firm believes the results reflect Cirrus’ “unique ability” to continue building secular momentum across multiple product lines, while maintaining a strong balance sheet to support growth, the analyst tells investors.