ON Semiconductor price target raised to $115 from $100 at Susquehanna

Susquehanna analyst Christopher Rolland raised the firm’s price target on ON Semiconductor to $115 from $100 and keeps a Positive rating on the shares. The firm offered their 2Q semiconductor earnings preview, and in short, expects A.I. to considerably outshine all other end markets. They expectuneven reports for the space, with some benefiting from A.I. and EVs, while others may confess to a softer macro as bookings trends slow and they look out into 2024.