Analog Devices price target raised to $314 from $293 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Analog Devices (ADI) to $314 from $293 and keeps an Overweight rating on the shares. Semiconductor distributors have increasingly reported price hikes, inventory builds, lead time extensions, and supply constraints, which supports strong December and March quarter results and “a clearer path to a recovery acceleration,” the analyst tells investors.