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Fly News Breaks for August 20, 2015
ADI
Aug 20, 2015 | 07:35 EDT
As previously reported, Nomura downgraded Analog Devices (ADI) to Reduce from Neutral. The firm expects consumer revenues to increase to 30% in the October quarter, up from 12% one year ago, driven by Apple (AAPL). The firm believes Apple's contribution isn't worth more than 8-10x earnings or $10 per share, suggesting that at $59, the core business is trading at 22x earnings, suggesting shares are overvalued versus the group that has a multiple of 19x.
News For ADI From the Last 2 Days
ADI
Apr 16, 2024 | 09:48 EDT
ADI
Apr 15, 2024 | 16:13 EDT
Evercore ISI initiated coverage of Analog Devices with an Outperform rating and $254 price target. The company is a "Tectonic Shift play" given its position as a key supplier into the emerging internet-of-things market which the firm expects to grow to 10s of billions of units, the analyst tells investors in a research note. Evercore adds that it expects the company's operating margins to expand 1,000bps over the next 10 years.
