Wells Fargo analyst Joe Quatrochi raised the firm’s price target on Analog Devices (ADI) to $240 from $220 and keeps an Equal Weight rating on the shares. The firm notes the company’s forward comments were better than expected as it believes semi cycle has turned a corner. Post Wednesday’s move and updated 2025 Street revenue likely +10% year-over-year, Wells expects investors to focus on second half of 2025 above seasonal revenue growth to drive shares higher.
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