Analog Devices price target raised to $240 from $220 at Stifel

Stifel analyst Tore Svanberg raised the firm’s price target on Analog Devices to $240 from $220 and keeps a Buy rating on the shares. The firm expects revenue in-line with its estimate to be down 16.4% quarter-over-quarter, but says the company could offer July-end quarter revenue guidance above the firm’s up 1.0% quarter-over-quarter estimate, the analyst tells investors in a preview note.