On Semi price target raised to $60 from $52 at Mizuho

Mizuho analyst Vijay Rakesh raised the firm’s price target on On Semi (ON) to $60 from $52 and keeps an Outperform rating on the shares after meeting with management. The company sees the June quarter as the bottom in autos and is seeing strength with China as it ramps design wins, the analyst tells investors in a research note.