Analysts React To Analog Devices’ Linear Purchase

So far, the market seems to like Analog Devices, Inc. ADI 0.61%’s $14.8 billion buyout of chipmaker Linear Technology Corporation LLTC 0.84%. Analog’s share price has jumped more than 6.7 percent in the past five trading sessions.

News of the big deal drove several rating and price target changes among Wall Street firms:

  • Barclays maintains its Equal-Weight rating, but raised its price target from $55 to $64.
  • Goldman Sachs upgraded Analog from Sell to Neutral and upped its price target from $50 to $60.
  • Evercore ISI Group upgraded the stock from Hold to Buy.
  • Oppenheimer upgraded Analog from Market Perform to Outperform.
  • Morgan Stanley upgraded the stock from Equal Weight to Overweight and raised its price target from $56 to $78, the highest target of the bunch.
  • Citigroup was unimpressed by the deal and issued the lone downgrade of Analog, dropping its rating from Buy to Neutral. The firm also raised its price target from $60 to $68.

Analog Devices is expected…

Click here to continue reading

Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common SenseI don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and is always available on your local internet!