Analog Devices (ADI) PT Raised to $97 at Stifel Following 2Q Beat
Stifel raised its price target on Analog Devices (NASDAQ: ADI) to $97.00 (from $95.00) while maintaining a Buy rating following the company's 2Q. ADI sales were $1,000.5mn, well above the revised guidance of $910-$950mn. EPS of $1.03 beat original guidance of $0.74-$0.86 and the Street consensus of $0.85.
The company's 3Q outlook is for revenue to be $1,370.0mn-$1,450.0mn, and EPS of $1.07-$1.21.