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UPDATE: Morgan Stanley Reiterates On ON Semiconductor On Shift In Capital Allocation

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In a report published Tuesday, Morgan Stanley analyst Craig Hettenbach reiterated an Underweight rating on ON Semiconductor Corp (NASDAQ: ONNN), but removed the $8.00 price target.

In the report, Morgan Stanley noted, “Given ON's mixed track record in M&A, including the struggles with SANYO, its new capital allocation stance toward buybacks is likely to resonate positively with investors. This should help close some of the underperfomance gap in the stock, although we remain Underweight on a relative basis.”

ON Semiconductor closed on Monday at $9.54.

Latest Ratings for ONNN

DateFirmActionFromTo
Apr 2015DowngradesNeutralSell
Feb 2015MaintainsHold
Feb 2015MaintainsBuy

View More Analyst Ratings for ONNN
View the Latest Analyst Ratings

Posted-In: Craig Hettenbach Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

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Latest Ratings

StockFirmActionPT
XELMaintains60.0
SOMaintains54.0
SREMaintains141.0
EXCMaintains56.0
ESMaintains77.0
View the Latest Analytics Ratings
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