TD Cowen raised the firm’s price target on Analog Devices (ADI) to $400 from $355 and keeps a Buy rating on the shares. The firm said they posted another solid beat/raise on upside in its datacenter-related segments, A&D, with strong upside in GM%. Compared to analog peers this quarter, and the last several, ADI is showing that it is benefiting from idiosyncratic content-related factors on top of the ongoing cyclical recovery.
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