Citi analyst Christopher Danely has reiterated their bullish stance on ADI stock, giving a Buy rating today.
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Christopher Danely has given his Buy rating due to a combination of factors including Analog Devices’ strong performance in key markets and optimistic future projections. The company reported better-than-expected results from the automotive, communications, and consumer sectors, which together accounted for a significant portion of their sales. Additionally, Analog Devices anticipates continued growth driven by the industrial sector, which is expected to surpass seasonal trends.
Danely also highlights the company’s robust financial results, with revenue and earnings per share exceeding both his and the consensus estimates. The guidance for the upcoming quarter suggests further sales growth and improved gross margins, reinforcing the positive outlook. Consequently, Danely raised his revenue and earnings estimates for the coming years, maintaining a target price of $290, which reflects a favorable expected share price return.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $271.00 price target.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ADI in relation to earlier this year.