Barclays analyst Tom O’Malley initiated coverage of On Semi (ON) with an Equal Weight rating and $75 price target Barclays is “cautiously optimistic” on an industrial recovery as PMIs turn higher but recommends a selective approach, saying each company “faces at least one unique challenge.” On Semi’s high China and auto exposure are “well understood” overhangs on the shares, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ON:
- On Semi initiated with an Equal Weight at Barclays
- AI Integration Poses Strategic, Legal, and Cyber Risks for ON Semiconductor
- ON Semiconductor Earnings Call Highlights AI and Cash
- On Semi price target raised to $75 from $65 at Deutsche Bank
- Bullish on onsemi: Stabilizing End Markets, Accelerating AI Data Center Growth, and Margin Expansion Support Buy Rating and $75 Target