ON Semiconductor Gains Favor Among Analysts with Boosted Price Targets

Published 2 days agoON

ON Semiconductor Gains Favor Among Analysts with Boosted Price Targets

ON Semiconductor has caught the attention of prominent analysts with revised price targets and maintained positive ratings. KeyBanc adjusted its price target to $90 from $95, maintaining an Overweight rating as of October 8, 2024. Meanwhile, B of A Securities and Deutsche Bank both raised their price targets to $90, affirming Buy ratings on July 30, 2024, indicating sustained analyst confidence in the company's performance. Truist Securities set an even higher price target of $97 while also keeping a Buy rating.

According to Benzinga, the consensus rating for ON Semiconductor stands at a Moderate Buy with an average price target of $116.55. This reflects a potential upside of approximately 71.4%, showcasing the strong market sentiment and optimism surrounding the company's future performance. The consensus across multiple analysts highlights ON Semiconductor as a noteworthy player in the market.

In recent performance insights, ON Semiconductor reported second-quarter earnings that exceeded expectations, driving a 1.7% increase in its share price to $71.25. This reflects the company's ability to deliver strong results and reinforces the positive analyst outlook. ON Semiconductor's strategic initiatives and market positioning continue to resonate well with analysts and investors alike.

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