Mizuho Maintains Buy on ON Semiconductor, Lowers Price Target to $87
Portfolio Pulse from Benzinga Newsdesk
Mizuho analyst Vijay Rakesh maintains a Buy rating on ON Semiconductor (NASDAQ:ON) but lowers the price target from $92 to $87.
April 30, 2024 | 10:59 am
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NEUTRAL IMPACT
Mizuho analyst Vijay Rakesh maintains a Buy rating on ON Semiconductor but lowers the price target from $92 to $87.
The reduction in price target by Mizuho might create some short-term negative sentiment among investors, potentially putting slight pressure on the stock price. However, the maintenance of a Buy rating indicates a positive outlook on the company's fundamentals, which could balance out the impact. The net effect in the short term is likely neutral, as the positive recommendation offsets the lower price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100