Stifel Reaffirms Buy on Analog Devices, $498 Price Target
Stifel analyst Tore Svanberg reiterated a Buy rating and $498 price target on Analog Devices (NASDAQ: ADI) on August 20, 2026.
“F3Q26 (Jul) sales beat, with revenue of $4.02bn (+11.0% q/q) coming in +3.1% above our $3.90bn estimate and marking the first $4bn quarter in ADI’s history, led by data center within Comms, in addition to Industrial and Auto.
Raised Oct Q guide, with the $4.30bn midpoint (+6.9% q/q) coming in +8.1% higher than our prior estimate of $3.98bn, implying a tenth straight above-seasonal quarter on continued data center strength alongside a broadening recovery.We believe the cyclical recovery still has room to run, with record results and outlook layered on top of secular content growth and ADI’s high-end analog positioning, supporting durability beyond the NT.Reiterate Buy and 12-month target price of $498 based on a 13.5x CY27E EV/Sales multiple.”
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