Analog Devices (ADI) PT Raised to $310 at KeyBanc Amid Cycle Recovery

KeyBanc analyst John Vinh raised the price target on Analog Devices (NASDAQ: ADI) to $310.00 (from $300.00) while maintaining a Overweight rating.

The analyst commented: "Cycle Recovery Lead by Industrials, While Auto Pull-ins Also Aided Results; ADI reported strong F3Q (Jul) results and F4Q (Oct) guidance, which is being primarily driven by the recovery in Industrials, as all verticals grew DD% y/y in the quarter, with q/q growth seen across all subsectors and regions. ADI also acknowledged that it saw continued tariff-related pull-ins within Auto, with F2Q (Apr) being driven by NA/Europe and in China this past quarter. Industrials is also expected to lead the growth in FY26 (Oct), as broad markets are still seeing continued inventory digestion this year. We're encouraged by these results and are slightly increasing our ests and are nudging up our PT to $310. Maintain OW."

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