BMO Capital analyst Ambrish Srivastava raised the firm’s price target on Analog Devices to $215 from $195 and keeps an Outperform rating on the shares after its Q1 earnings beat. The analyst states that the trajectory of the company’s results and commentary raises the potential for a softer landing for parts of the semi world. BMO Capital further contends that Analog Devices is a "differentiated, high-performance" company that has a long runway for both earnings and free cash flow growth.
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