Piper Sandler analyst Harsh Kumar keeps an Overweight rating on ON Semiconductor with a $75 price target after meeting with management. The analyst left with "enthusiasm" about ON’s prospects for silicon carbide and its ability to be an independent self-supported wafer provider by the end of 2023. He also has a high level of confidence in ON’s $1B 2023 silicon carbide revenue goal.
Published first on TheFly
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