- Keybanc maintained an Overweight on ON Semiconductor Corp ON and raised the price target to $55 from $47, implying a 26% upside.
- Citigroup analyst Christopher Danely raised the price target to $54 from $45, implying a 23.75 upside, and reiterated a Buy rating on the shares. ON's upside to Q2 results and guidance are driven by restructuring and strong demand, Danely notes.
- He sees additional upside from the company's restructuring and increased estimates.
- Needham maintained a Strong Buy rating on ON Semiconductor and raised the price target to $60, implying a 37% upside.
- Price action: ON shares closed higher by 11.7% at $43.64 on Monday.
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