Cantor Reiterates Neutral on ON Semiconductor, $110 PT
Cantor Fitzgerald analyst Matthew Prisco reiterated a Neutral rating and $110 price target on ON Semiconductor (NASDAQ: ON).
“Overall, we are left with some questions exiting the Q around the sizing and growth trajectory of the Data Center business, dynamics impacting ON’s Auto/Industrial biz vs peers today, and leverage to the model as we contemplate moving parts around GM/Opex.
The good news is that we are almost a month away from the company’s Analyst Day in NYC (Sept 16th), where we suspect many of our questions will be addressed.
But in the interim, we maintain our Neutral rating and $110 price target (based on our still intact vision to $6 in EPS in CY28) as we see better upside elsewhere today.”
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