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Analog Devices price target lowered to $248 from $252 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Analog Devices (ADI) to $248 from $252 and keeps an Overweight rating on the shares. Analog reported an in-line October-end quarter and guided for a slightly softer than anticipated January quarter, notes the analyst. While Analog is past the trough and “gets high scores for downcycle management,” recovery from here is somewhat end-market dependent, the analyst added in a post-earnings note.

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