Analog Devices price target raised to $290 from $280 at Stifel

Stifel analyst Tore Svanberg raised the firm’s price target on Analog Devices (ADI) to $290 from $280 and keeps a Buy rating on the shares following a fiscal Q4 sales beat and January quarter guidance whose $3.10B midpoint came in 6.5% higher than the firm’s prior estimate. The “solid print” and guidance are bolstered by what the firm believes to be company-specific long-term secular tailwinds spanning its multiple end markets, the analyst tells investors.