Analysts Raise Price Target On ON Semiconductor Following Q2 Earnings Beat

August 3, 2021 7:03 AM | 1 min read | Make a Comment

Keybanc maintained an Overweight on ON Semiconductor Corp ON and raised the price target to $55 from $47, implying a 26% upside.
Citigroup analyst Christopher Danely raised the price target to $54 from $45, implying a 23.75 upside, and reiterated a Buy rating on the shares. ON's upside to Q2 results and guidance are driven by restructuring and strong demand, Danely notes.
He sees additional upside from the company's restructuring and increased estimates.
Needham maintained a Strong Buy rating on ON Semiconductor and raised the price target to $60, implying a 37% upside.
Price action: ON shares closed higher by 11.7% at $43.64 on Monday.