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Bernstein upgrades Analog Devices, citing improving demand and electric vehicle potential

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Analog Devices is entering a strong demand period and has long-term potential as a key supplier for electric vehicles, making it an attractive play for investors, investment firm Bernstein said Thursday.

Stacy Rasgon upgraded the semiconductor stock to outperform from market perform, saying in a note to clients that the outlook for the company's communications industry business has improved. He added that excitement about the next generation of cars can help support the stock.

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