As previously reported, Seaport Research analyst Jay Goldberg upgraded both Analog Devices (ADI) and Texas Instruments (TXN) to Neutral from Sell with no price target. While the firm sees “no strong catalysts,” it acknowledges that it was “wrong” in its prior thought that the analog inventory cycle was not going to improve and the macro economy was slowing. Seaport, which tells investors that it now appears conditions will not deteriorate and inventories may start to improve, is raising its estimates to consensus, the analyst added.
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Read More on ADI:
- Analog Devices upgraded to Neutral from Sell at Seaport Research
- Analog Devices price target raised to $275 from $260 at BofA
- Analog Devices price target raised to $270 from $248 at Stifel
- Analog Devices initiated with a Buy at Goldman Sachs
- Analog Devices price target raised to $300 from $285 at KeyBanc