BofA analyst Vivek Arya raised the firm’s price target on Analog Devices to $260 from $225 and keeps a Buy rating on the shares. The analyst cites the company’s Q2 sales beat, marking the bottom of the cycle. BofA further notes that Q3 sales were guided up 5.1% sequentially at $2.27B, implying that Analog Devices’ recovery is starting about a quarter ahead of peers.
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