Market Overview

UPDATE: Sterne Agee Raises PT on Analog Devices Following July Q Report

Related ADI
Stock Market News for July 01, 2014 - Market News
UPDATE: Stifel Initiates Coverage On Analog Devices On Multiple Positive Factors
Stocks Poised to Slip from Record Highs (Fox Business)

In a report published Wednesday, Sterne Agee analyst Vijay Rakesh reiterated a Neutral rating on Analog Devices (NASDAQ: ADI), and raised the price target from $41.00 to $44.00.

In the report, Sterne Agee noted, “ADI reported JulyQ at $674M/$0.56, inline with Consensus. Strength in the quarter was from Communications up 12% q/q, while Industrial-Auto was flattish. ADI guided OctQ modestly below the Street noting flattish industrial orders in U.S-Europe. Also, a renewed focus on shareholder return with 80% of FCF to dividends-buybacks versus prior 60%. ADI also seeing a lower 2014 Tax rate at 14-15% versus our prior 18%. Raising our EPS primarily on lower tax rate and PT to $44.”

Analog Devices closed on Tuesday at $47.85.

Posted-In: Sterne Agee Vijay RakeshAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (ADI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free

Benzinga Professional