Wolfe Research Raises Analog Devices Price Target to $475

Wolfe Research analyst Chris Caso raised the price target on Analog Devices (NASDAQ: ADI) to $475.00 (from $415.00) while maintaining an Outperform rating.

“ADI reported F1Q/F2Q upside on broad recovery in industrial, better than expected auto and continued strong growth in data center (+90% y/y).

We see bull case EPS of ~$17 in CY27 driven by continued strong datacenter revenue growth. Increasing PT to $475.”

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