) to outperform from neutral.
Analyst Tristan Gerra said the upgrade is based on factors such as checks indicating that mobile phone demand into the fourth quarter is tracking above normal seasonality. The analyst noted that increased competition in multimedia processors was one of the pillars behind the previously neutral investment rating. The analyst noted higher-margin DLP shipments should continue to be strong into the first quarter of 2006. Baird raised its $34 price target to $43.