Stifel Raises Analog Devices Price Target to $360
Stifel analyst Tore Svanberg raised the price target on Analog Devices (NASDAQ: ADI) to $360.00 (from $330.00) while maintaining a Buy rating.
“Expect Jan Q revenue in-line to slightly above our $3.10bn estimate (+0.8% q/q), driven by: (1) normalized bookings and lean channel inventory (~6 weeks); (2) constructive end market expectations, with Comms (+10% above seasonal) and Industrial (+mid-single digits above seasonal) buffering sequential declines in Automotive and Consumer; and (3) constructive peer results signaling a broad-based recovery (TXN, NXPI, MCHP, ON).
Could guide Apr Q slightly higher than our $3.22bn revenue estimate (+4.0% q/q), as the company benefits from continued strength in its Industrial business (ATE & A&D) and a uniquely rich B2B sales mix levered towards high-end analog solutions, further aided by reported 10-20% price increases.Reminding investors of our view that ADI’s focus on the high-end of B2B analog markets positions the company to exhibit above-industry growth longer-term, we maintain our Buy rating and raise our 12-month TP to $360 (from $330), based on a 14.0x CY26E EV/Sales multiple.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
