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Xilinx dips as Wells Fargo expects near-term downside

|About: Xilinx, Inc. (XLNX)|By: , SA News Editor

Wells Fargo starts Xilinx (NASDAQ:XLNX) on the sidelines with a $95 target, $5 above the Street-low target. The company has a Bullish average Sell Side rating.

Analyst Aaron Rakers expects "another quarter or two of more downside risk than upside potential" but remains positive on the company's "long-term story."

Rakers thinks Xilinx is well-positioned for 5G market expansion and sees the current valuation as an attractive entry point.

Xilinx shares are down 0.8% pre-market to $90.40.