Analog Devices (ADI) PT Lowered to $260 at TD Cowen

TD Cowen analyst Joshua Buchalter lowered the price target on Analog Devices (NASDAQ: ADI) to $260.00 (from $270.00) while maintaining a Buy rating.

The analyst commented, "After a turbulent quarter for analog semis, ADI's results/guide were a welcome reprieve. Investors may be disappointed as seasonal declines delay the GM/OM recovery, but clean inventory position should bode well when demand improves. Valuation looks full and burden of proof on F2025 growth will be on ADI, but FCF is poised to inflect and we think the setup is comparatively clean. Buy, PT to $260."

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