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Fly News Breaks for September 27, 2019
ADI
Sep 27, 2019 | 08:30 EDT
Loop Capital analyst Cody Acree raised his price target to $125 and kept his Buy rating on Analog Devices. The analyst expects 2020 to be a "stronger environment" for semiconductors after the completion of an industry-wide inventory correction, saying the company's industrial sales - which account for about 50% of its business - should benefit "significantly". Acree further cites the benefits of returning activity in the hyper-scale data center space and contends that the "lingering pressure" on the China auto market from reduced hybrid/electric vehicle subsidies is not impacting Analog Devices dramatically.
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