Barclays Maintains an 'Equalweight' on Analog Devices (ADI); Adjusting Estimates as Recovery Still Seems Gradual
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Price: $189.93 --0%
Rating Summary:
23 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 4
Rating Summary:
23 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 9 | Down: 6 | New: 4
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Barclays maintains an 'Equalweight' on Analog Devices (NYSE: ADI) price target raised from $36 to $40.
Analyst, C.J. Muse, said, "On a positive note, January Q marks a trough for ADI and the company raised its dividend by 20% highlighting the company's excellent variable cost model. On the negative side, April Q guide was slightly below consensus raising questions as to what the rate of recovery will look like. We continue to model only a gradual recovery, suggesting limited upside form here."
"We now model April Q $665M/$0.51 (cons $684M/$0.54), CY12 $2.9B/$2.45 (cons $2.8B/$2.37) and CY13 $3.1B/$2.80 (cons $3.1B/$2.78)."
Several other firms made comments today including: 1) Canaccord Genuity reiterating a 'Buy'; 2) Nomura Securities cutting estimates, but maintaining a 'Neutral', and 3) Jefferies - lowering estimates, but maintaining a 'Hold'.
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, C.J. Muse, said, "On a positive note, January Q marks a trough for ADI and the company raised its dividend by 20% highlighting the company's excellent variable cost model. On the negative side, April Q guide was slightly below consensus raising questions as to what the rate of recovery will look like. We continue to model only a gradual recovery, suggesting limited upside form here."
"We now model April Q $665M/$0.51 (cons $684M/$0.54), CY12 $2.9B/$2.45 (cons $2.8B/$2.37) and CY13 $3.1B/$2.80 (cons $3.1B/$2.78)."
Several other firms made comments today including: 1) Canaccord Genuity reiterating a 'Buy'; 2) Nomura Securities cutting estimates, but maintaining a 'Neutral', and 3) Jefferies - lowering estimates, but maintaining a 'Hold'.
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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