Analyst Joseph Moore of Morgan Stanley maintained a Buy rating on Analog Devices (ADI – Research Report), boosting the price target to $250.00.
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Joseph Moore’s rating is based on several factors that highlight the potential of Analog Devices. The company showed strong performance in the recent quarter, with slightly better results for January and an optimistic outlook for April. Despite facing challenges with operating leverage due to reduced variable compensation, Analog Devices has demonstrated robust execution during downturns, maintaining high operating margins.
Moreover, improvements in industrial and automotive bookings, particularly driven by the strength in China’s automotive sector, further support the positive outlook. Even though the valuation is elevated compared to peers, Moore views the stock as a core holding, especially in uncertain macroeconomic conditions. The company’s differentiated portfolio provides a protective edge amidst trade tensions, contributing to the Buy rating given by Joseph Moore.
Moore covers the Technology sector, focusing on stocks such as Broadcom, Nvidia, and Western Digital. According to TipRanks, Moore has an average return of 13.2% and a 56.97% success rate on recommended stocks.
In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $280.00 price target.