Cantor Fitzgerald Raises ON Semiconductor Price Target to $100

Cantor Fitzgerald analyst Matthew Prisco raised the price target on ON Semiconductor (NASDAQ: ON) to $100.00 (from $95.00) while maintaining a Neutral rating.

“Positives including cycle turning, DC revs doubling, and design wins ramping, though offset by Auto overexposure, margins expanding slower than hoped, DC revs still smaller rev contributor, and pressure relative to peers on biz exit – remains a torque trade for investors, but we see risk/reward balanced.”

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