There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Analog Devices (ADI) and Nvidia (NVDA) with bullish sentiments.
Analog Devices (ADI)
In a report released today, Ambrish Srivastava from BMO Capital maintained a Buy rating on Analog Devices, with a price target of $145.00. The company’s shares closed last Wednesday at $118.15.
According to TipRanks.com, Srivastava is a 5-star analyst with an average return of 14.3% and a 76.9% success rate. Srivastava covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Texas Instruments, and Maxim Integrated.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Analog Devices with a $133.76 average price target, a 13.5% upside from current levels. In a report issued on August 13, Daiwa also maintained a Buy rating on the stock.
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Nvidia (NVDA)
In a report released today, Christopher Rolland from Susquehanna reiterated a Buy rating on Nvidia, with a price target of $560.00. The company’s shares closed last Wednesday at $485.54, close to its 52-week high of $499.84.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 15.3% and a 69.2% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Power Integrations.
Currently, the analyst consensus on Nvidia is a Strong Buy with an average price target of $507.14, implying a 3.4% upside from current levels. In a report issued on August 10, Merrill Lynch also maintained a Buy rating on the stock with a $401.42 price target.
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