Gleacher & Co. Re-initiates Coverage on Analog Devices (ADI) at Buy; Continued ROI Improvements; Favorable Content & Unit Trends

Gleacher & Co. re-initiates coverage on Analog Devices (NYSE: ADI) with a Buy. PT $40.00.

Gleacher analyst says, "We like how variable operating expenses (12% variable operating expenses remaining after October) support earnings leverage while pricing improvements and focus on ROI should help lift operating margins beyond the present 36-37% level. Despite the macroeconomic concerns surrounding industrial, we think the stock works from here given recent estimate cuts and improving end-demand visibility once Japan-related inventory is worked down. We recommend investors use the present downturn to opportunistically accumulate shares of a likely analog outperformer."

For more ratings news on Analog Devices click here and for the rating history of Analog Devices click here.

Shares of Analog Devices closed at $30.89 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c
• Piper Sandler Reiterates Overweight Rating on KKR (KKR), 'highest conviction name'