Jefferies Raises ON Semiconductor Price Target to $73

Jefferies analyst Blayne Curtis raised the price target on ON Semiconductor (NASDAQ: ON) to $73.00 (from $65.00) while maintaining a Buy rating.

“Strong growth in AI Data Centers (7% of rev) helps offset headwinds from noncore exits and some Industrial lumpiness. Auto showing modest improvement but no clear indications of restocking/upcycle.

We expect C26 to remain choppy as the company exits $50M, $100M, and $100M of business across the March, June, and September quarters.”

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