Morgan Stanley Maintains Overweight on Analog Devices, Lowers Price Target to $219
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Joseph Moore has maintained an Overweight rating on Analog Devices (NASDAQ:ADI) but reduced the price target from $225 to $219.
November 22, 2023 | 1:16 pm
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Morgan Stanley reaffirmed an Overweight rating on Analog Devices, but lowered the price target to $219, indicating a positive outlook with a slightly reduced growth expectation.
While the Overweight rating suggests that Morgan Stanley continues to see Analog Devices as a good investment, the reduction in the price target may reflect a minor adjustment in growth expectations or market conditions. This news is likely to have a neutral short-term impact on ADI's stock price as the positive rating is maintained but the target price is slightly lowered.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100