Market Overview

UPDATE: Citi Lowers Analog Devices' PT

Share:
Related ADI
Why A Shift To Smartcars Is A Long-Term Tailwind For Chip Makers
Semiconductor Stocks Go Nuts Amid Consolidation Speculation
Avago-Broadcom Merger Would Create No. 3 Chipmaker (Investor's Business Daily)

According to a research report published this morning, Citi has lowered Analog Devices' (NASDAQ: ADI) PT from $46 to $41.

Citi commented in the report, "ADI's F3Q-Jul sales outlook provided on 5/22 undershot our and the Street's prior expectation due to a decelerating industrial recovery. Contrasting AVGO's mid-teens guidance on Asia picking up, ADI's industrial should grow low-single digits reflecting macro uncertainty in Europe where ADI has meaningful exposure. Notably, GM expansion started to materialize with a 200bps bump in Apr-Q helped by favorable mix toward industrial and higher loading."

Citi maintains its Buy rating on Analog Devices, which closed yesterday at $36.15.

Latest Ratings for ADI

DateFirmActionFromTo
May 2015JP MorganMaintainsNeutral
May 2015Stifel NicolausMaintainsBuy
May 2015OppenheimerMaintainsOutperform

View More Analyst Ratings for ADI
View the Latest Analyst Ratings

Posted-In: CitiAnalyst Color Price Target Analyst Ratings

 

Related Articles (ADI)

Around the Web, We're Loving...