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Xilinx: Credit Suisse upgrades to Outperform

Apr. 24, 2017 6:36 AM ETAdvanced Micro Devices, Inc. (AMD) StockAMDBy: Eli Hoffmann, SA News Editor1 Comment
  • 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.

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