Analog Devices (ADI) PT Raised to $105 at Drexel Hamilton Following April Quarter
Drexel Hamilton raised its price target on Analog Devices (NASDAQ: ADI) to $105.00 (from $93.00) while maintaining a Buy rating following the company's April quarter. Broadly, the company beat the revenue consensus by about $100 million, with EPS upside of about $0.18. The EPS upside was driven by stronger revenue and better margins.
ADI provided revenue guidance that was about $50 million ahead of expectations and an EPS mid-point that was $0.10 above the consensus.