- Credit Suisse upgrades Xilinx (NASDAQ:XLNX) to Outperform from Neutral.
- Increases price target to $70 from $65.
- Firm says multiple years of negative leverage appear to be reversing. Thinks 5G trials in late FY17/18 could drive high single digit growth over the next several years.
- Current share underperformance makes for an attractive entry point ahead of better topline growth and operating margin upside.
- Upcoming catalyst: earnings on Apr. 26.
- Xilinx is unloved by the Street, with 8 Buys, 14 Holds and 4 Sells before today, according to Bloomberg.
- Shares +2.1% premarket.