BofA raised the firm’s price target on ON Semiconductor (ON) to $100 from $90 and keeps a Buy rating on the shares following "management’s confident presentation at a broker event" as well as the recent news of an EV win with BMW (BMWYY). Despite macro headwinds, auto semis remains a bright spot, as affirmed by ON and several peers, said the firm, which continues to identify the stock as "a top autos pick."
Published first on TheFly
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