Analog Devices price target raised to $275 from $225 at UBS

UBS raised the firm’s price target on Analog Devices to $275 from $225 and keeps a Buy rating on the shares. Analog Devices posted better than expected guidance when adjusting for changes in inventory draw down in its distribution channel, and its model has been very resilient, the analyst tells investors in a research note. UBS continues to like Analog’s exposure to the highest growth segments of the market, and says most of the revenue synergies from the Maxim deal are still on the come, which creates some idiosyncratic drivers for the stock.