StoneX initiates coverage of ON Semiconductor with Buy rating and $110 price target
StoneX began coverage of ON Semiconductor, assigning a Buy rating and a $110 price target that implies roughly 50% upside from the current $73.36 share price. The target is based on a 16.0× multiple of fiscal 2028 non‑GAAP earnings per share and includes accretion from the pending Synaptics acquisition. StoneX also guided third‑quarter revenue between $1.65 billion and $1.75 billion. The firm highlighted growth opportunities in automotive and AI data‑center markets.
Why it matters
The initiation suggests a bullish outlook for ON, potentially attracting new investor interest and supporting the stock price. The revenue guidance and price target provide a concrete valuation reference for traders.
Key facts
- 1StoneX set a price target of $110.00 for ON Semiconductor. investing.com
- 2The target assumes a 16.0× multiple of fiscal 2028 non‑GAAP EPS, including accretion from the Synaptics acquisition. investing.com
- 3ON shares were trading at $73.36 at the time of the report. investing.com
- 4StoneX expects roughly 50% upside from the current price. investing.com
- 5ON is acquiring Synaptics for $123 per share, valuing the transaction at approximately $5.7 billion. investing.com
- 6ON guided Q3 revenue between $1.65 billion and $1.75 billion. finance.yahoo.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.