On Semiconductor price target lowered to $60 from $72 at Stifel

Stifel analyst Tore Svanberg lowered the firm’s price target on On Semiconductor (ON) to $60 from $72 and keeps a Hold rating on the shares after meeting with management. The firm acknowledges the company’s progress across multiple product lines and its ability to post solid free cash flow even in a softer market, but believes 2025 “will represent a challenging year given the automotive and industrial backdrop.”