Baird Raises ON Semiconductor Price Target to $100
Baird analyst Tristan Gerra raised the price target on ON Semiconductor (NASDAQ: ON) to $100.00 (from $56.00) while maintaining a Neutral rating.
“Muted top line and gross margin re-acceleration despite the cycle recovery highlight ongoing share losses which we attribute to product pruning in addition to the pricing strategy adopted in 2021-2022.
LTSAs, while declining, still represent most of our projected 2026 revenue, and remain a headwind in our view.
Entry in high-voltage GaN (AI data center) is very recent, while ON Semi currently lacks ultra high-voltage SiC. Neutral-rated.”
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