Stifel Raises Analog Devices Price Target to $405

Stifel analyst Tore Svanberg raised the price target on Analog Devices (NASDAQ: ADI) to $405.00 (from $360.00) while maintaining a Buy rating.

“ADI delivered a solid print and guide bolstered by what we believe to be company-specific LT secular tailwinds spanning its multiple end markets, with the company’s focus on the high-end/high-value semiconductor solutions continuing to support the NT outlook.

Reiterate Buy, raising our 12-month Target Price to $405 (from $360), as we introduce our CY27E estimates (14.0x CY27E EV/Sales).”

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