Barclays Maintains an 'Equalweight' on Analog Devices (ADI); We Focus on Rate of Recovery, not Simply the Trough
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Price: $373.09 +0.77%
Rating Summary:
33 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
33 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Analog Devices (NYSE: ADI) price target of $36.00.
Barclays analyst says, "We heard few surprises from ADI, with well-known weakness in comm/industrials weighing on January guide but mgmt offering some hope that business has stabilized. We would note that while mgmt offered guarded optimism in its outlook, they were less ardent in calling a bottom like some other analog names. We continue to model only a gradual recovery, suggesting that while shares have limited downside, we see limited upside as well."
"We now model Jan Q $664M/$0.48 (consensus $705M/$0.59), CY12 $2.9B/$2.55 (consensus $3.0B/$2.67) and CY13 $3.1B/$2.80."
For an analyst ratings summary and ratings history on Analog Devices click here. For more ratings news on Analog Devices click here.
Shares of Analog Devices closed at $34.34 yesterday.
Barclays analyst says, "We heard few surprises from ADI, with well-known weakness in comm/industrials weighing on January guide but mgmt offering some hope that business has stabilized. We would note that while mgmt offered guarded optimism in its outlook, they were less ardent in calling a bottom like some other analog names. We continue to model only a gradual recovery, suggesting that while shares have limited downside, we see limited upside as well."
"We now model Jan Q $664M/$0.48 (consensus $705M/$0.59), CY12 $2.9B/$2.55 (consensus $3.0B/$2.67) and CY13 $3.1B/$2.80."
For an analyst ratings summary and ratings history on Analog Devices click here. For more ratings news on Analog Devices click here.
Shares of Analog Devices closed at $34.34 yesterday.
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