Truist raised the firm’s price target on Analog Devices (ADI) to $249 from $219 and keeps a Hold rating on the shares. The company posted strong Q2 results and guided Q3 better as its management continues its “cycle on!” view, especially in industrial, which remains below prior peak, the analyst tells investors in a research note. Truist adds however that the stock’s full valuation is keeping the firm on the sidelines.
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