Analog Devices price target raised to $200 from $190 at Cowen

Cowen analyst Joshua Buchalter raised the firm’s price target on Analog Devices to $200 from $190 and keeps an Outperform rating on the shares. The analyst believes they present one of the best and cleanest capital return stories in semis. He sees margin and capital return stability even in a scenario of cyclical pressure, with upside in a favorable backdrop.