Analog Devices price target raised to $245 from $215 at Oppenheimer

Oppenheimer raised the firm’s price target on Analog Devices to $245 from $215 and keeps an Outperform rating on the shares ahead of quarterly results. The firm sees an in-line setup to Street Q2 sales/EPS $2B/$1.26E and Q3 $2.2B/$1.35E as core industrial troughs. All segments are expected to be down quarter-over-quartet in Q2. Bookings have been improving across most segments, giving Oppenheimer confidence the second half of the year will be up vs. the first half.