Market Overview

UPDATE: ISI Group Upgrades Analog Devices to Strong Buy on Greater Conviction

Share:
Related ADI
10 Notable Stocks Trading Ex-Dividend Wednesday, November 30
10 Stocks That Rallied Four Days, Then Sold Off Yesterday
Chesapeake May Head Higher - Cramer's Lightning Round (12/07/16) (Seeking Alpha)

In a report published Monday, ISI Group upgraded its rating on Analog Devices (NASDAQ: ADI) from Buy to Strong Buy, and raised its price target from $50.00 to $52.00.

ISI Group noted, “We are again raising ratings, price targets, and estimates for names within our coverage group with high exposure to the industrial vertical. In summary, our view is that recent data is increasingly supportive of the view that conditions for a strong semiconductor cycle are improving ahead of expectations generally, but even more so for our preferred niche, the industrial market. Thus, while there is some investor concern and skepticism around the durability of the recent rally in the stocks, especially in light of the seemingly full valuations being accorded to the names, we think the preconditions for a meaningful rise in estimates that is needed to drive the second leg of the rally,are increasingly in place.”

Analog Devices closed on Friday at $45.23.

Latest Ratings for ADI

DateFirmActionFromTo
Nov 2016Bank of AmericaUpgradesNeutralBuy
Nov 2016Deutsche BankMaintainsHold
Nov 2016KeyBancMaintainsOverweight

View More Analyst Ratings for ADI
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Upgrades Analyst Ratings

 

Related Articles (ADI)

View Comments and Join the Discussion!