BofA, which aired a bearish note on Spreadtrum (SPRD +15.9%) on April 17, is upgrading shares to...

|About: Spreadtrum Communications, ... (SPRD)|By:, SA News Editor

BofA, which aired a bearish note on Spreadtrum (SPRD +15.9%) on April 17, is upgrading shares to Neutral as they take off due to a huge Q1 EPS beat and strong Q2 revenue guidance. Nonetheless, the firm says it remains cautious due to Spreadtrum's weak smartphone app processor position, limited EPS visibility, and rival MediaTek's technology edge, among other things.