Canaccord Genuity Reiterates a 'Buy' on Analog Devices (ADI); Dividend Increases Likely as Management Calls Bottom
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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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Canaccord Genuity reiterates a 'Buy' on Analog Devices (NYSE: ADI) price target raised to $48.00.
Analyst, Bobby Burleson, said, "Despite below-consensus results and guidance, we expect shares of ADI to move higher on an accelerating cyclical recovery and the potential for additional dividend increases. Orders remain elevated into CQ1 following an initial pick-up in late CQ4, driven by industrial and some broad-based demand recovery, which bodes well for continued top-line and EPS growth in CQ2. We believe management would like to further increase the dividend, following the 20% raise to $0.30 per quarter, as valuation support would be enhanced through a yield north of 3%."
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 $39.82 yesterday.
Analyst, Bobby Burleson, said, "Despite below-consensus results and guidance, we expect shares of ADI to move higher on an accelerating cyclical recovery and the potential for additional dividend increases. Orders remain elevated into CQ1 following an initial pick-up in late CQ4, driven by industrial and some broad-based demand recovery, which bodes well for continued top-line and EPS growth in CQ2. We believe management would like to further increase the dividend, following the 20% raise to $0.30 per quarter, as valuation support would be enhanced through a yield north of 3%."
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 $39.82 yesterday.
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