Piper Jaffray analyst Harsh Kumar raised his price target for Analog Devices to $112 and reiterates an Overweight rating on the shares. It is time for investors to think about Analog Devices, as the company has several growth drivers in place over the next few years, Kumar tells investors in a research note titled "All Good Under The Hood." The analyst believes that despite China weakness, Analog's industrial segment has a chance to outperform Street expectations as the year rolls-on. Further, he sees the company's competitive positioning in automotive and the upcoming 5G cycle as "tailwinds to growth over the next few years."

BofA raised the firm's price target on Texas Instruments (TXN) to $190 from $175 and keeps a Neutral rating on the shares. TI's small Q1 beat and inline but sequentially rising Q2 sales guidance, "while modest, potentially marks a recovery inflection in industrial chip demand," with positive read-across for U.S. peers such as Analog Devices (ADI), Microchip (MCHP), NXP Semiconductors (NXPI) and On Semiconductor (ON), the analyst tells investors. However, despite an expected recovery, TI's sustained high capex intensity could keep reported calendar year 2024-26 pro-forma EPS below $6 per share, the analyst added.

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