Analog Devices price target raised to $230 from $216 at Truist

Truist raised the firm’s price target on Analog Devices (ADI) to $230 from $216 and keeps a Hold rating on the shares as part of a broader research note on Semis and AI after attending CES 2025. The firm notes that the management sounded a reasonably confident tone in terms of revenue, competition from domestic suppliers in China, and gross margins, also indicating that Analog Devices management suggested the Street is too optimistic on operating expenditure for the coming year, the analyst tells investors in a research note.