Truist lowered the firm’s price target on Analog Devices to $266 from $275 and keeps a Buy rating on the shares. Analog Devices beat Q2 consensus estimates, and while Q3 guidance is “only” inline with estimates, it is 3% above seasonal, reflecting a cyclical recovery, the analyst tells investors in a research note. The firm retains a constructive view on the sector and on Analog owing to its approach to product portfolio, channel management, and capital allocation.
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