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Fly News Breaks for November 21, 2018
ADI
Nov 21, 2018 | 09:25 EDT
SunTrust analyst William Stein lowered his price target on Analog Devices to $106 to reflect the lower multiples of the broader semiconductors sector. The analyst keeps his Buy rating however and recommends that investors buy the stock ahead of "normalizing valuation" and potential for M&A benefits. Stein also believes that Analog Devices is navigating the trade tariff concerns "better than most peers owing to its strong position in comms and ongoing benefits from HITT and LLTC that are becoming more evident". The analyst anticipates the company outperforming in 2019 thanks to its lower than expected leverage and higher cost savings along with the industry's improving demand.
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