SunTrust analyst William Stein raised his price target on Analog Devices to $133 and kept his Buy rating, noting that while its Q3 earnings miss was "unremarkable", he expects that investors will benefit from "lots of goodness coming after a 5G pause". The analyst cites the company's strong operating results visible in the quarter's inventory control and expectations of a sharp 5G rebound forecasted for Q1 of 2020. Stein adds that his new price target models a multiple of 25-times expected 2020 earnings, which is still a 2-turn discount relative to "elevating analog peers".

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.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here