Goldman Sachs Cuts Price Target On Analog Devices (ADI), Keeps Neutral
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Price: $35.12 -0.45%
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Goldman Sachs reiterated its Neutral-rating on Analog Devices (NYSE: ADI) and cuts its price target from $34 to $32 following weak Q2 results.
"ADI's weak 2QCY11 report was generally in-line with investor expectations given similar declines from peers that also have short lead times," the analyst said. "We expect that analog companies that have longer lead times will see this weakness in 4QCY11, which we view as necessary to help clear inventory."
For more ratings news on Analog Devices click here and for the rating history of Analog Devices click here.
Shares of Analog Devices closed at $31.35 yesterday.
"ADI's weak 2QCY11 report was generally in-line with investor expectations given similar declines from peers that also have short lead times," the analyst said. "We expect that analog companies that have longer lead times will see this weakness in 4QCY11, which we view as necessary to help clear inventory."
For more ratings news on Analog Devices click here and for the rating history of Analog Devices click here.
Shares of Analog Devices closed at $31.35 yesterday.
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