Piper Sandler raised the firm’s price target on Analog Devices (ADI) to $245 from $215 and keeps a Neutral rating on the shares. The quarter was solid, with the industrial segment driving growth and benefiting from a strong recovery, and Analog Devices is calling for another quarter of growth across each of its segments on an annualized basis, which is encouraging given the broader macro, the analyst tells investors in a research note. Piper says Analog Devices continues to represent a high quality play in the analog space, but looks for a better entry point.
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