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Fly News Breaks for November 13, 2018
ON
Nov 13, 2018 | 07:31 EDT
As reported earlier, BMO Capital analyst Ambrish Srivastava initiated ON Semiconductor with a Market Perform rating and a price target of $20. The analyst states that while he is impressed with the company's execution toward achieving its near-term and long-term target, he finds shares valued "reasonably" at current levels. Srivastava adds however that the "integration of the Fairchild acquisition has gone a long way to wipe away the sins of the Sanyo deal" and that he would consider taking a more constructive stance on downward estimate revisions or reduction of lead times.
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