Barclays Downgrades Skyworks Solutions to Underweight, Lowers Price Target to $87
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Tom O'Malley has downgraded Skyworks Solutions (NASDAQ:SWKS) from Equal-Weight to Underweight and reduced the price target from $115 to $87.
October 10, 2024 | 12:57 pm
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NEGATIVE IMPACT
Barclays has downgraded Skyworks Solutions to Underweight and lowered its price target to $87, indicating potential downside risk.
The downgrade from Equal-Weight to Underweight by Barclays suggests a negative outlook on Skyworks Solutions' stock. The significant reduction in the price target from $115 to $87 indicates that the analyst expects the stock to underperform, which could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100