Truist raised the firm’s price target on Analog Devices (ADI) to $248 from $230 but keeps a Hold rating on the shares after its Q1 earnings beat. The firm notes that there is a “significant upturn in optimism” on the name, but also believes that the stock already reflects that. Truist adds that 2026 consensus “appears somewhat optimistic”, especially in terms of operating expense control, and even on those optimistic estimates, the stock trades at 26-times earnings, which is not cheap relative to its historical multiples.
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Read More on ADI:
- Analog Devices price target raised to $280 from $260 at TD Cowen
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