Cirrus Logic price target raised to $150 from $140 at Stifel

Stifel raised the firm’s price target on Cirrus Logic (CRUS) to $150 from $140 and keeps a Buy rating on the shares after a “solid” fiscal Q2 beat Q3 revenue outlook above expectations. The firm views the report as a continuation of Cirrus’ steady long-term approach to capturing meaningful opportunities in applications outside of smartphones, while retaining a strong relationship with its largest customer and other smartphone makers, the analyst tells investors.