Analog Devices price target raised to $225 from $205

Susquehanna analyst Christopher Rolland raised the firm’s price target on Analog Devices to $225 from $205 and keeps a Positive rating on the shares. The analyst said they expect book-to-bill to remain below 1 for the next couple quarters as they continue to remove orders their customers no longer require and noted its solid results and guidance for ADI‘s core markets of Industrial and Auto, but less certainty around 2H23.