UPDATE: Deutsche Bank Lowers PT on Analog Devices from $42 to $36

Deutsche Bank has published a research report on Analog Devices ADI lowering the price target. In the report, Deutsche Bank wrote, "ADI reported soft F3Q results that were below DBe on both revs and EPS driven by macro demand softness and channel inventory reductions. This combination is expected to persist into F4Q as well. While ADI's broadly diversified end mkt exposure will not be immune to these headwinds, we do expect the co to weather this storm better than in cycles past due to its fundamentally leaner cost structure." Deutsche Bank rated Analog Devices a Hold with a price target lowered from $42.00 to $36.00. Deutsche Bank closed Tuesday at $31.35.