Truist analyst William Stein raised the firm’s price target on Analog Devices (ADI) to $258 from $249 and keeps a Hold rating on the shares. The company posted an autos-driven Q3 upside and guided Q4 better, though its performance is largely AI driven, the analyst tells investors in a research note. Analog Devices is executing very well – gaining share in autos with high-value differentiated products, and growing exposure to AI in converters and power management, the firm added.
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