Argus Raises Analog Devices Price Target to $460

Argus analyst Jim Kelleher raised the price target on Analog Devices (NASDAQ: ADI) to $460.00 (from $400.00) while maintaining a Buy rating.

“Broad-based revenue growth, raising target price • Analog Devices posted fiscal 2Q26 revenue and adjusted EPS above the high end of management’s guidance ranges and well ahead of consensus expectations. • The shares slipped despite fiscal 3Q26 guidance that was well above prereporting consensus estimates.

Fiscal 2Q26 performance and 3Q26 guidance signal accelerating top- and bottomline momentum as end markets strengthen. • Sales into three of four end markets grew in double-digit percentages in fiscal 2Q26, reflecting strong cyclical demand, normalization of original equipment manufacturer (OEM) and distribution channel inventories, and a high-quality, high-margined product offering. • ADI’s business model is resilient, based on a diversified customer base and product portfolio and a flexible, hybrid manufacturing model.

We are reiterating our BUY rating and raising our 12-month target price to $460 from $400.”

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