Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Analog Devices (ADI) to $248 from $252 and keeps an Overweight rating on the shares. Analog reported an in-line October-end quarter and guided for a slightly softer than anticipated January quarter, notes the analyst. While Analog is past the trough and “gets high scores for downcycle management,” recovery from here is somewhat end-market dependent, the analyst added in a post-earnings note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADI:
- Analog Devices price target lowered to $227 from $233 at Truist
- Analog Devices price target raised to $280 from $254 at Evercore ISI
- Analog Devices price target lowered to $260 from $270 at TD Cowen
- Analog Devices price target lowered to $220 from $235 at Piper Sandler
- Analog Devices, Inc. Reports Resilient Fiscal 2024 Performance