On Semi price target raised to $80 from $60 at Goldman Sachs

Goldman Sachs raised the firm’s price target on On Semi (ON) to $80 from $60 and keeps a Neutral rating on the shares. On Semi reported an in-line quarter with above-Street guidance and improving demand signals in industrial and datacenter markets, supported by growth in datacenter power and Treo products, though mixed performance in SiC and image sensors and limited restocking visibility lead to a constructive but relatively neutral near-term outlook despite upside potential for the broader analog semiconductor group, the analyst tells investors in a research note.