Deutsche Bank Reiterates Buy Rating on ON Semiconductor (ON) Into Analyst Day

Deutsche Bank analyst Ross Seymore reiterated a Buy rating and $95.00 price target on ON Semiconductor (NASDAQ: ON) into the company's Anayst Day next Tuesday.

The analyst commented, "Overall, we expect ON management to maintain their upbeat tone at the co’s upcoming analyst meeting (5/16), highlighting the ongoing value creation from their structural transformation strategy. We commend the co for the progress it has already made in this transformation (faster growth in strategic markets at higher margins), yet still see further potential upside should the co continue to execute to its business prioritization, manufacturing rationalization, and operational execution goals. While cyclical headwinds may accelerate across ON’s core Auto/Industrial markets, we continue to believe ON’s transformation efforts can yield revenue, margin and FCF stability superior to that of its broad-based peers. Reiterate Buy rating & $95 P/T."

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 $79.87 yesterday.

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