Canaccord Genuity Reiterates a 'Buy' on ON Semi (ONNN); Improvements Ahead
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Price: $11.70 --0%
Rating Summary:
7 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on ON Semi (NASDAQ: ONNN) price target of $11.00.
Analyst, Bobby Burleson, said, "We reiterate a BUY as a soft outlook for revenues in Q2 is being offset by margin improvements through cost reductions and better product mix. Management believes the auto industry may have sidestepped significant shutdowns from resin shortages by quickly finding alternatives, and sees strong auto performance for most of 2012. The real opportunity for revenue upside versus our revised estimates is likely to come from computing and consumer, however, with a strong seasonal H2 lift on strength in Asia. We lower our revenue estimate on soft outlook."
For an analyst ratings summary and ratings history on ON Semi click here. For more ratings news on ON Semi click here.
Shares of ON Semi closed at $8.31 yesterday.
Analyst, Bobby Burleson, said, "We reiterate a BUY as a soft outlook for revenues in Q2 is being offset by margin improvements through cost reductions and better product mix. Management believes the auto industry may have sidestepped significant shutdowns from resin shortages by quickly finding alternatives, and sees strong auto performance for most of 2012. The real opportunity for revenue upside versus our revised estimates is likely to come from computing and consumer, however, with a strong seasonal H2 lift on strength in Asia. We lower our revenue estimate on soft outlook."
For an analyst ratings summary and ratings history on ON Semi click here. For more ratings news on ON Semi click here.
Shares of ON Semi closed at $8.31 yesterday.
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