Analog Devices price target raised to $225 from $200 at Cowen

Cowen analyst Joshua Buchalter raised the firm’s price target on Analog Devices to $225 from $200 and keeps an Outperform rating on the shares. The analyst said they reported another clean beat/raise as the company benefits from secular demand for high-performance analog content in resilient auto/industrial markets. Cycle concerns will persist, but we’re increasingly confident in them executing to a "soft-landing" with best-in-class margins and proactive channel/lead-time management supporting capital returns.