KeyBanc analyst John Vinh raised the firm’s price target on ON Semiconductor to $100 from $80 and keeps an Overweight rating on the shares. The firm notes that ON posted solid Q4 results, which were slightly above expectations, and guided Q1 slightly lower due to weaker non-auto demand. Given KeyBanc’s near-term concerns regarding yields, the firm is "encouraged" with these much better than feared results.
Published first on TheFly
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