Truist Securities Maintains Buy on ON Semiconductor, Lowers Price Target to $89-Report Released on 5th February 2024
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst William Stein maintains a Buy rating on ON Semiconductor (NASDAQ:ON) but lowers the price target from $94 to $89 as of 5th February 2024.

February 06, 2024 | 2:19 pm
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Truist Securities maintains a Buy rating on ON Semiconductor but lowers the price target from $94 to $89.
The maintenance of a Buy rating by Truist Securities indicates continued confidence in ON Semiconductor's growth prospects and operational performance. However, the reduction in the price target from $94 to $89 suggests a cautious outlook on the stock's short-term price performance, potentially due to market conditions or revised earnings expectations. This mixed signal could lead to neutral short-term price movement as investors weigh the positive rating against the lowered price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100