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UPDATE: Canaccord Genuity decreases PT on Analog Devices to $42

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According to a research report this morning, Canaccord Genuity decreases its PT on Analog Devices (NASDAQ: ADI) from $48 to $42.

Canaccord Genuity explained, “ADI delivered upside to consensus revenue and EPS, driven by stronger than expected industrial demand, as customers began to order to consumption following a multi-quarter period of inventory depletion. We also note that wired and wireless infrastructure saw increased demand, notably picking up toward the exit of the quarter.”

ADI closed yesterday at $35.80 as Canaccord Genuity reiterates its Buy rating.

Latest Ratings for ADI

DateFirmActionFromTo
Jun 2016Bank of AmericaDowngradesBuyNeutral
Jun 2016Goldman SachsInitiates Coverage onSell
May 2016JefferiesMaintainsBuy

View More Analyst Ratings for ADI
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Reiteration Analyst Ratings

 

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