Analog Devices price target raised to $275 from $245 at Benchmark

Benchmark raised the firm’s price target on Analog Devices (ADI) to $275 from $245 and keeps a Buy rating on the shares. Fiscal Q1 results and the outlook were ahead of expectations as end demand improvements continued, the analyst tells investors. Despite potential disruptions from the broader geopolitical environment, the improvement across the business is providing increased conviction in a return to the long-term growth model of 7-10% this year, the analyst added.