Stifel Raises Analog Devices Price Target to $450
Stifel analyst Tore Svanberg raised the price target on Analog Devices (NASDAQ: ADI) to $450.00 (from $405.00) while maintaining a Buy rating.
“Expect upside in the Apr Q print relative to our $3.50bn estimate (+10.8% q/q), based on several factors: (1) solid bookings and lean channel inventory (~6-7 weeks); (2) end market expectations are constructive as all ex.
Consumer should grow sequentially; and (3) constructive peer results signals broad-based recovery (TXN, NXPI, MCHP, ON).Upside possible in Jul Q guide, 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 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, with raised 12-month TP of $450 (from $405), representing a 15.5x CY27E 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.
