Zacks Investment Research upgraded shares of Analog Devices Inc. (ADI) from UNDERPERFORM to NEUTRAL on April 01, 2014, with a target price of $56.00.
Analog Devices is a leading supplier of analog and DSP integrated circuits. Its first quarter earnings beat the Zacks Consensus Estimate by a penny and guidance was also positive. Though we remain concerned about competitive pressures across several markets, ADI is solidly positioned in secular growth markets and its products continue to see very strong deployment in the emerging automotive market. Given this backdrop, the order momentum in the last quarter is encouraging, leading us to upgrade Analog Devices shares from Underperform to Neutral.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Analog Devices Inc. (ADI),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment