Citi analyst Christopher Danely has reiterated their bullish stance on ADI stock, giving a Buy rating on August 1.
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Christopher Danely has given his Buy rating due to a combination of factors that suggest a positive outlook for Analog Devices. The company is expected to report results for the third fiscal quarter that align with consensus estimates, with a notable strength in the Industrial sector, which constitutes a significant portion of its sales. Additionally, the gross margin is anticipated to be sequentially higher, reflecting improved operational efficiency.
Furthermore, Danely anticipates that the guidance for the fourth fiscal quarter will exceed consensus expectations, driven by seasonal trends and higher revenue projections. Despite some challenges in the Automotive sector, the overall market is expected to grow quarter-over-quarter, supporting the notion of an ongoing upturn. The Buy rating is reaffirmed with a target price of $290, reflecting confidence in the company’s growth trajectory and market position.
In another report released on August 1, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $247.00 price target.