Investment firm Loop Capital on Wednesday upgraded fabless semiconductor supplier Cirrus Logic (NASDAQ:CRUS) to a Buy rating from a previous Hold rating while raising its price target from $83 to $100. Shares of Cirrus Logic were marginally up in Wednesday’s afternoon trading session.
Loop Capital analyst David Williams, in a note to investors, said the upgrade was based on potential upsides in the company’s shares. Notably, he said the stocks offer a unique opportunity as Cirrus Logic can level up its EPS to $7 – $10 in the coming years.
Additionally, the analyst said the Texas-based company has a “handful of shots on goal,” given the constant emergence of new hardware product potential for Apple (NASDAQ:AAPL) – one of Cirrus’s main customers.
What is the Stock Price Prediction for CRUS?
Turning to Wall Street, analysts have a Strong Buy consensus rating on CRUS stock based on four Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average CRUS price target of $90.00 per share implies a 34.17% upside potential.
