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Fly News Breaks for July 9, 2019
ADI
Jul 9, 2019 | 06:08 EDT
Piper Jaffray analyst Harsh Kumar raised his price target for Analog Devices to $135 from $118 and reiterates an Overweight rating on the shares after hosting investor meetings with management. The analyst believes the company is executing very well in the current environment. Management believes inventory levels are healthy across the board, with China distribution channels largely flushed out, Kumar tells investors in a research note. In addition, Analog Devices sees major 5G deployments driving growth in 2020, the analyst adds. Kumar continues to believe Analog Devices is a "best-in-class" semiconductor company.
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