Analog Devices price target raised to $210 from $185 at Barclays

Barclays analyst Tom O’Malley raised the firm’s price target on Analog Devices to $210 from $185 and keeps an Equal Weight rating on the shares. The firm says analog names “already trade with a robust recovery modeled.” The analyst understands the desire to rotate into analog names at this part of the cycle due to bottoming fundamentals and rotation away from some artificial intelligence names “due to fears of an air pocket.” However, Barclays thinks these fears are overblown and that AI still has at least a few more quarters of positive revisions.