Needham Maintains Buy on ON Semiconductor, Lowers Price Target to $92
Portfolio Pulse from Benzinga Newsdesk
Needham analyst Quinn Bolton has maintained a 'Buy' rating on ON Semiconductor (NASDAQ:ON) but lowered the price target from $120 to $92.
October 31, 2023 | 8:22 am
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ON Semiconductor's price target has been lowered from $120 to $92 by Needham, though the 'Buy' rating is maintained.
The lowering of the price target by Needham could potentially create a negative sentiment among investors, which might put downward pressure on the stock price. However, the maintained 'Buy' rating indicates that the analyst still sees potential in the company, which could counterbalance the negative sentiment to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100