These Analysts Boost Their Forecasts On Analog Devices After Upbeat Results
Portfolio Pulse from Avi Kapoor
Analog Devices, Inc. (NASDAQ:ADI) reported better-than-expected Q2 financial results, with revenue and adjusted EPS surpassing analyst estimates. Despite a decline in revenue and margins, the company is optimistic about a cyclical recovery. Analysts have raised their price targets for ADI following the results.
May 23, 2024 | 11:53 am
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Analog Devices reported better-than-expected Q2 results, with revenue and adjusted EPS beating estimates. Despite declines in revenue and margins, the company is optimistic about a cyclical recovery. Analysts have raised their price targets for ADI.
The better-than-expected Q2 results and optimistic outlook for Q3, coupled with raised price targets from analysts, are likely to positively impact ADI's stock price in the short term.
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