As previously reported, Wells Fargo upgraded Analog Devices (ADI) to Overweight from Equal Weight with a price target of $340, up from $265. The firm expects momentum in its growth markets to support continued above seasonal growth in 2026 and drive upward estimate revisions. Wells thinks sentiment is warming on analog given relatively easy year-over-year comparable sales in the first half of 2026 as companies are now largely shipping close to end-demand, and potential for further inventory replenishment.
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