Craig-Hallum analyst Anthony Ross raised the firm’s price target on ON Semiconductor to $96 from $75 and keeps a Buy rating on the shares. The firm thinks ON is one of the best ways to play the explosion of SiC for EVs as the company continues to also manage its overall business well. While Craig-Hallum believes the stock can be choppy near-term, the firm thinks investors should continue to build positions on pullbacks.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ON:
- ON Semiconductor price target raised to $89 from $70.40 at Morgan Stanley
- ON Semiconductor price target raised to $88 from $69 at Benchmark
- ON Semiconductor price target raised to $95 from $81 at Cowen
- BofA maintains STMicroelectronics estimates after ON confirms Tesla as customer
- ON Semiconductor price target raised to $100 from $80 at Susquehanna