Skyworks price target raised to $89 from $65 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Skyworks (SWKS) to $89 from $65 and keeps an Equal Weight rating on the shares following the company’s acquisition of Qorvo (QRVO). The transaction “makes sense” and key customers seem supportive of the deal, the analyst tells investors in a research note. However, the firm believes the combined company’s small China sales could be at risk pending approvals.