Cantor Fitzgerald and Wells Fargo lift ADI price targets to $510 and $470, citing strength in data centers and industrial markets.
Analog Devices (NASDAQ:ADI) saw its price targets raised by two major banks amid strong demand for analog chips. Cantor Fitzgerald increased its target to $510 from $400, while Wells Fargo lifted its estimate to $470 from $410, both maintaining Overweight ratings.
The upgrades follow a 40% year-to-date gain for ADI shares, driven by first-quarter demand from data centers and industrial sectors. Wells Fargo highlighted strength in communications markets as a key growth driver ahead of second-quarter earnings.
ADI’s stock has surged 81% over the past year, reflecting broader momentum in semiconductor stocks tied to AI and industrial applications.