ON Semiconductor (ON) SiC win with BMW 'a positive' - Rosenblatt

Rosenblatt analyst Kevin Cassidy reiterated a Buy rating and $95.00 price target on ON Semiconductor (NASDAQ: ON), saying last night's announcement it won a long term supply agreement with BMW for its EliteSiC technology is positive for the shares.

"We see onsemi's increasing SiC substrate manufacturing capacity along with its packaging technology as key market differentiators," Cassidy commented. "We expect similar announcements from other EV vehicle OEMs in the near future.

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

Shares of ON Semiconductor closed at $77.41 yesterday.

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