In a report published Friday, Morgan Stanley analyst Joseph Moore maintained an Overweight rating on Altera ALTR, with a $40.00 price target.
According to the report, for the fifth consecutive quarter, we look past some elements of the qtr that were below expectations, but have hope for the future, as wireless is turning, new products are growing nicely, and the 1Q correction in telecom, computing and broadcast should be short lived.
“Solid upside in 4Q, but another small disappointment in 1Q as revenue numbers come down
by 2% & the buyback was less than we hoped,” the report noted. “Still, commentary on wireless was strong, 28 nm could grow 30% next 2 qtrs from 4Q $44 mm (31% shr), and we'd expect all business segments to grow from here.”
ALTR closed Thursday at $32.66.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in