Deutsche Bank downgraded its rating on Skyworks Solutions SWKS from Buy to Hold. At the same time, Deutsche Bank reduced its price target on the company's stock from $40 to $30.
In a research report published today, Deutsche Bank states, "Our price target is based on a DCF analysis using a 10.5% discount rate and 5%
growth rate, which is based on our estimate of long-term industry growth. Key
downside risks are Skyworks' ability to garner design wins and the overall level of
demand for handsets among consumers. Up/downside risks include unanticipated
shifts in consumer sentiment, mobile handset demand, and consumer handset
purchasing preferences as well as the potential for other entrants to use
alternative technologies for Skyworks addressable market."
On Monday, Skyworks lost 4.02% of its value and is trading around $22.23.
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