Cantor upgrades Analog Devices to Overweight, names top pick in group

Cantor Fitzgerald upgraded Analog Devices (ADI) to Overweight from Neutral with a price target of $270, up from $250. Analog Devices is a “best-in-class” analog company, with “outsized” industrial exposure which is preferential into the upcycle, the analyst tells investors in a research note. Cantor says Analog is its favorite long-term investment within the group. It sees an “attractive pair opportunity” with expected outperformance versus peer Texas Instruments (TXN) through the early cycle. The firm says Analog Devices’ exposure is “well-suited to early innings of the recovery,” and that its “higher asset quality nature checks a huge box in uncertain times.”