Truist Securities Maintains Buy on Analog Devices, Lowers Price Target to $222
Portfolio Pulse from Benzinga Newsdesk
Truist Securities analyst William Stein maintains a Buy rating on Analog Devices (NASDAQ:ADI) but lowers the price target from $226 to $222.

February 22, 2024 | 5:35 pm
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NEUTRAL IMPACT
Truist Securities maintains a Buy rating on Analog Devices but lowers the price target from $226 to $222.
The adjustment in price target by Truist Securities reflects a slight modification in their valuation assessment of Analog Devices. While the reduction in the price target could imply a tempered outlook, the maintenance of a Buy rating indicates continued confidence in the company's fundamentals. This mixed signal might lead to neutral short-term price movement as investors digest the implications of a lower price target against the backdrop of sustained analyst confidence.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100