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Fly News Breaks for November 27, 2019
Nov 27, 2019 | 08:20 EDT
Raymond James analyst Christopher Caso said he thinks he "made the right decision on both" lowering his estimates for Analog Devices and upgrading the stock over the last quarter as he remains bullish despite lower estimates for Q1. Despite the weaker January quarter outlook, he sees signs of bottoming and sees a path to move numbers up driven by normalization of inventory, auto content growth, wireless growth outside of Huawei and better margin leverage, Caso tells investors. He raised his price target on Analog Devices to $130 from $120 following the company's October quarter report and keeps an Outperform rating on the shares.