Oppenheimer raised the firm’s price target on Analog Devices (ADI) to $265 from $225 and keeps an Outperform rating on the shares ahead of quarterly results. The firm sees upside to Q2 results and Q3 outlook as an overdue cyclical recovery takes root. Tariff noise easing a bit but first half of the year pull-in activity likely mutes second half seasonality, in Oppenheimer’s view. The firm views Analog Devices as a prime beneficiary of cyclical rebound in core auto/industrial.
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