Analog Devices (ADI, Financials) received a bullish upgrade from Cantor Fitzgerald, which raised its rating to Overweight and hiked the price target to $270 from $250, citing the company's strong positioning in the industrial sector. Shares last traded at $227.44, giving the stock a potential upside of nearly 19%.
Cantor called Analog Devices “best-in-class” within the analog semiconductor group and its top long-term pick in the space. The firm emphasized ADI's “outsized industrial exposure” as a strategic advantage as the sector enters a cyclical recovery. The new price target reflects 30x projected 2026 earnings per share.
The semiconductor giant, valued at $112.87 billion, also recently earned strong credit ratings—Moody's (A2), Fitch (A), and S&P (A-)—on its latest senior notes, reflecting solid financials and robust liquidity, with over $2 billion in cash and a $3 billion undrawn credit facility.
In addition, ADI launched the OpenGMSL Association to standardize in-vehicle connectivity and reported 15% year-over-year growth in its automotive segment. Stifel analysts reiterated a Buy rating, highlighting momentum in auto demand, while Truist maintained a Hold rating and trimmed its target to $219 due to macro concerns, including tariffs and earnings call ambiguities.
