ON Semiconductor price target lowered to $72 from $82 at Stifel

Stifel lowered the firm’s price target on ON Semiconductor to $72 from $82 and keeps a Hold rating on the shares. Ahead of what the firm identifies as “a crucial earnings period ahead of what could be a possible bottoming in analog, mixed-signal semiconductor markets,” Stifel argues that those companies that corrected the earliest and hardest will likely see the strongest and earliest recovery.