TD Cowen lowered the firm’s price target on Synaptics (SYNA) to $80 from $100 and keeps a Buy rating on the shares. The firm notes results came in slightly above expectations driven by improving IoT revenues. The company has not seen any signs of deteriorating consumer demand with backlog and order linearity remaining healthy with the trend potentially extending into September quarter. However, the risk remains regarding potential demand softness in the future, TD Cowen says.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SYNA:
- Synaptics’ Growth Potential and Strategic Initiatives Justify Buy Rating
- Synaptics transferred with Buy rating at Needham
- Synaptics Reports Strong Growth in IoT Sales
- Positive Outlook for Synaptics Driven by Strong IoT Growth and Strategic Acquisitions
- Closing Bell Movers: Pinterest jumps 15%, Toast up 7% after earnings