Barclays Upgrades Cirrus Logic To Overweight, Increased PT Implies 20% Upside

Barclays analyst Blayne Curtis upgraded Cirrus Logic Inc CRUS to Overweight from Equal Weight with a price target of $100, up from $95, signifying a 19.6% upside.
Curtis sees a path to further content gains at Apple Inc AAPL over the next several years for Cirrus and Android opportunities in audio and power.
Further, he prefers names levered to the handset market versus other "more cyclical" end markets into 2022.
Cirrus Logic's Apple content can move higher over the next few years as camera and power content broadens, says Curtis, who sees a path to $6-plus of EPS for the company by the second half of 2023.
Price Action: CRUS shares traded higher by 3.64% at $86.66 in the premarket session on the last check Tuesday.

Overview Rating:

Speculative

0100

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