Truist analyst William Stein raised the firm’s price target on Analog Devices to $251 from $215 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s healthy backlog supports a protracted and soft landing as Analog Devices delivered revenue, margin, and earnings upside, the analyst tells investors in a research note. Analog Devices is capitalizing on sound organic investments and creating a "better future with M&A" that also includes accelerating sales growth & better expense efficiencies, the firm added.
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