Analog Devices price target raised to $280 from $270 at Jefferies

Jefferies analyst Blayne Curtis raised the firm’s price target on Analog Devices (ADI) to $280 from $270 and keeps a Buy rating on the shares following “better-than-expected” Q3 results and guidance. Expect some skepticism around durability of the industrial demand, but the channel decreased in July and it’s important to note that Analog Devices’ flavor of industrial is much more levered to more durable end markets, Jefferies told investors. The firm added that it raised its price target based on new CY27 EPS of $10.93.