BMO Capital analyst Ambrish Srivastava raised the firm’s price target on ON Semiconductor (ON) to $80 from $75 and keeps a Market Perform rating on the shares after its Q1 results. The company continues to execute well, its pricing is stable, and it also appears fully booked for the next 12 months, the analyst tells investors in a research note. The firm adds that the performance on gross margin stands out relative to the struggles at Wolfspeed (WOLF).
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Published first on TheFly
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