BofA raised the firm’s price target on Analog Devices (ADI) to $290 from $275 and keeps a Buy rating on the shares. The analyst notes that the firm’s “top analog semi pick” is benefitting from a confluence of cyclical recovery, secular, and content gain growth that is driving best-in-class 25% sales growth this year and thinks these dynamics continue in calendar 2026. Following the quarterly report, the firm raised its calendar 2026 and 2027 pro-forma EPS forecast by 3% and 7%, respectively, the analyst noted.
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