Cantor Fitzgerald Reiterates Neutral on ON Semiconductor, $110 Price Target
Cantor Fitzgerald analyst Matthew Prisco reiterated a Neutral rating and $110 price target on ON Semiconductor (NASDAQ: ON).
“Overall, the Analog space is increasingly becoming a bottleneck, with upside to estimates paired with investor sentiment that has soured meaningfully across the group – resulting in ample opportunity today at attractive valuations.
As such, despite the Analog stocks being serially underperformers to the SOX over the past number of years (feels like even at the best of times performing roughly in-line), we are positive on the setups today, and would now be buyers of the group – looking for incremental positive commentary to surface over the coming months (perhaps even conference season given the strength of our checks).”
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.
