Market Overview

Analysts React To Analog Devices' Linear Purchase

Share:
Analysts React To Analog Devices' Linear Purchase
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)
Related LLTC
Analog Devices Is One Of Morgan Stanley's Top Overweight Picks
Earnings Scheduled For October 18, 2016
What Is The Top Arb Bet For 2017? (Seeking Alpha)

So far, the market seems to like Analog Devices, Inc. (NASDAQ: ADI)’s $14.8 billion buyout of chipmaker Linear Technology Corporation (NASDAQ: LLTC). Analog’s share price has jumped more than 6.7 percent in the past five trading sessions.

Related Link: Argus Reiterates Buy Rating For Verizon On 'Slackening' Competition

News of the big deal drove several rating and price target changes among Wall Street firms:

  • Barclays maintains its Equal-Weight rating, but raised its price target from $55 to $64.
  • Goldman Sachs upgraded Analog from Sell to Neutral and upped its price target from $50 to $60.
  • Evercore ISI Group upgraded the stock from Hold to Buy.
  • Oppenheimer upgraded Analog from Market Perform to Outperform.
  • Morgan Stanley upgraded the stock from Equal Weight to Overweight and raised its price target from $56 to $78, the highest target of the bunch.
  • Citigroup was unimpressed by the deal and issued the lone downgrade of Analog, dropping its rating from Buy to Neutral. The firm also raised its price target from $60 to $68.

Analog Devices is expected to release Q2 earnings on August 17.

(Click to enlarge)

The ratings table was provided by Benzinga Professional, a premium service that provides traders and investors with real-time headlines and analysis covering earnings reports, M&A, IPOs, rumors and much more. Start a 14-day trial today to gain access to important coverage that is moving the markets.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Disclosure: The author holds no position in the stocks mentioned.

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: Analyst Color Long Ideas News Upgrades Downgrades Price Target M&A Analyst Ratings Best of Benzinga

 

Related Articles (LLTC + ADI)

View Comments and Join the Discussion!