Canaccord Genuity Maintains a 'Buy' on ON Semi (ONNN); Mgmt Calls Q1 the Bottom

Canaccord Genuity maintains a 'Buy' on ON Semi (NASDAQ: ONNN) price target raised to $11.

Analyst, Bobby Burleson, said, "In keeping with reports from peers, ONNN sees Q1 as the bottom of the current correction, with channel inventory reduction likely finished in the quarter and bookings starting to recover. We are reiterating our rating and increasing our price target to $11, as checks indicate the recovery could drive upside to consensus estimates on pent up demand."

For an analyst ratings summary and ratings history on ON Semi click here. For more ratings news on ON Semi click here.

Shares of ON Semi closed at $9.12 yesterday.

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