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