Analog Devices price target raised to $350 from $320 at BofA

Core Viewpoint - Bank of America has raised the price target for Analog Devices (ADI) to $350 from $320 while maintaining a Buy rating on the shares, indicating positive sentiment towards the company's stock performance [1]. Group 1: Price Target and Rating - The price target for Analog Devices (ADI) has been increased to $350 from $320 [1]. - Bank of America maintains a Buy rating on Analog Devices shares, reflecting confidence in the company's future performance [1]. Group 2: Market Expectations - The firm anticipates modest calendar Q4 beats and Q1 raises across its diversified analog semiconductor stock coverage [1]. - The expected growth is primarily driven by industrial semiconductors, which are experiencing ongoing rebounds across most subsegments [1]. Group 3: Growth Drivers - Favorable pricing and robust growth in strategic AI businesses are contributing to the positive outlook for the semiconductor sector [1].