Qorvo Upgraded To Buy From Neutral At Mizuho

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Mizuho analyst Vijay Rakesh upgraded Qorvo (QRVO) to Buy from Neutral with a price target of $125, up from $80.

The stock closed Thursday down 96c to $111.96.

The analyst upgraded radio frequency suppliers Qorvo and Skyworks Solutions (SWKS) as he sees "meaningful upside" from an improving 5G handset outlook. RF content per handset is estimated to rise 50%-60% versus 4G, Rakesh tells investors in a research note.

The analyst believes share catalysts should come from the 3GSM in mid-February, which he notes should see multiple 5G handset launches, a potential for a Huawei settlement in the second half of 2020 as China trade tensions cool, and multiple new Apple (AAPL) iPhone models including 5G.
 

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