Arete Upgrades Analog Devices (ADI) to Buy

Arete has upgraded Analog Devices (ADI) from Neutral to Buy, setting a target price of $389, indicating a potential upside of over 22%. The upgrade is based on projected sales of $19.3 billion for fiscal year 2028, surpassing consensus estimates, driven by strong performance in automated testing, data centers, and automotive segments, and an anticipated AI capex cycle tailwind. Analog Devices is recognized for its integrated circuits, software, power management, and data converter technologies across various sectors.

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