Raymond James raised the firm’s price target on Analog Devices (ADI) to $430 from $385 and keeps an Outperform rating on the shares. Analog Devices delivered another strong quarter with accelerating AI-driven datacenter demand making up most of communications revenue, alongside the acquisition of Empower Semiconductor that expands its AI/datacenter power exposure, reinforcing its position as a leading analog player benefiting from long-term secular growth trends across AI infrastructure, industrial automation, and electrification, the analyst tells investors in a research note.
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