Cirrus Logic price target raised to $200 from $175 at KeyBanc

KeyBanc raised the firm’s price target on Cirrus Logic (CRUS) to $200 from $175 and keeps an Overweight rating on the shares. The firm notes the company posted strong Q4 results and Q1 guidance, which exceeded expectations. Upside was driven by strong iPhone demand, as Apple (AAPL) represented 91% of revenues and grew 9% year-over-year.