Baird Downgrades ON Semiconductor to Neutral, Lowers Price Target to $60
Portfolio Pulse from Benzinga Newsdesk
Baird analyst Tristan Gerra has downgraded ON Semiconductor (NASDAQ:ON) from Outperform to Neutral and lowered the price target from $120 to $60.
October 31, 2023 | 10:19 am
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NEGATIVE IMPACT
ON Semiconductor has been downgraded by Baird from Outperform to Neutral, with a price target reduction from $120 to $60.
The downgrade from Baird, a reputable financial firm, could negatively impact investor sentiment towards ON Semiconductor. The significant reduction in the price target from $120 to $60 suggests that Baird sees less upside potential in the stock, which could lead to selling pressure in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100