BMO Capital Starts Analog Devices (ADI) at Outperform
BMO Capital analyst Harsh Kumar initiates coverage on Analog Devices (NASDAQ: ADI) with a Outperform rating, PT $430.00.
The analyst comments "We're initiating on Analog Devices at Outperform and with a $430 target price. ADI is a widely regarded analog semiconductor. ADI’s analog and data converters (ADC/DAC) are considered among the best in the industry. The company drives roughly 75% of its business from industrial and automotive end markets, both recovering from post-COVID correction. Industrial segment has been in recovery since the beginning of the year while automotive is at the early recovery phase. We feel ADI is well positioned in three industrial sub-sectors: industrial automation, instrumentation and measurement, and aerospace/defense."
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Shares of Analog Devices closed at $373.26 yesterday.