Wells Fargo Maintains Overweight on ON Semiconductor, Lowers Price Target to $95
Portfolio Pulse from Benzinga Newsdesk
Wells Fargo analyst Gary Mobley maintains an Overweight rating on ON Semiconductor (NASDAQ:ON) but lowers the price target from $110 to $95.

April 23, 2024 | 3:55 pm
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Wells Fargo maintains an Overweight rating on ON Semiconductor but lowers the price target from $110 to $95.
The reduction in the price target by Wells Fargo, despite maintaining an Overweight rating, could lead to a negative short-term sentiment among investors. This adjustment reflects a revised valuation expectation, which might cause some investors to reassess the stock's growth prospects and potentially lead to a decrease in its stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100