Truist Securities Downgrades Analog Devices to Hold, Lowers Price Target to $233
Portfolio Pulse from Benzinga Newsdesk
Truist Securities has downgraded Analog Devices from Buy to Hold and reduced its price target from $266 to $233.
September 23, 2024 | 2:17 pm
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Truist Securities downgraded Analog Devices from Buy to Hold, reducing the price target from $266 to $233, indicating a less optimistic outlook.
The downgrade from Buy to Hold suggests a less favorable view on ADI's future performance, and the lowered price target indicates reduced expectations for stock appreciation. This is likely to negatively impact ADI's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100