Wells Fargo analyst Joe Quatrochi raised the firm’s price target on Analog Devices (ADI) to $205 from $200 and keeps an Equal Weight rating on the shares. The firm notes the company remains positive on signs of a cycle recovery, particularly in Industrial where book-to-bill returned to greater than 1.0-time across all markets. However, this was overshadowed by the auto-related demand pull-forward during Q2, Wells adds.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADI:
- Strong Market Position and Growth Potential Drive Buy Rating for Analog Devices
- Analog Devices initiated with a Buy at KGI Securities
- Analog Devices price target lowered to $215 from $240 at Piper Sandler
- Analog Devices Receives Buy Rating from Joseph Moore Due to Strong Performance and Optimistic Future Outlook
- Analog Devices price target raised to $185 from $170 at Barclays
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue