Credit Suisse Upgrades Analog Devices (ADI)

Credit Suisse Upgrades Analog Devices (ADI)

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Credit Suisse reported on Monday that they have upgraded integrated circuit producer, Analog Devices, Inc.(ADI).

The firm has increased their rating for ADI from “Neutral” to “Outperform,” and has given the company a $48 price target. This price target suggests a 12% increase from the stock’s current price of $42.26.

Analysts predict that the company will see improved end market demand during 2013.

Analog Devices shares were up 47 cents, or 1.11% during Monday morning trading. The stock has increased 3.5% in the past year.

The Bottom Line
Shares of Analog Devices (ADI) have a 2.84% dividend yield, based on Friday’s closing stock price of $42.26. The stock has technical support in the $38-$39 price area. If the shares can firm up, we see overhead resistance around the $44-$46 price levels.

Analog Devices, Inc.(ADI) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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