ON
Another analyst wants a higher number
ON Semiconductor got a fresh thumbs-up from Loop Capital, which lifted its price target to $85 from $75 and stuck with a Buy rating. Translation: one more analyst basically looked at the stock and said, “Yeah, I’m still in.”
Why you should care
This is the kind of move that doesn’t change the business overnight, but it can absolutely keep the momentum machine humming. ON shares were already up on the year, and a higher target can reinforce the idea that the market’s AI-and-data-center optimism isn’t just a one-off caffeine rush.
The analyst pile-on is getting crowded
Loop Capital’s call also comes just two days after BofA Securities upgraded ON to Buy and raised its target to $85 as well. When multiple firms start converging on the same number, it tends to send a pretty simple message: expectations are drifting higher, and investors are paying attention.
Big picture
ON is still trading in the real world, where autos and consumer chips can be messy, but analysts are clearly leaning into the parts of the story that look stronger — especially data centers and AI. For shareholders, that can be a nice tailwind. For everyone else, it’s a reminder that semiconductor stocks love a good narrative almost as much as they love a good quarter.