Analog Devices (NYSE:ADI) Sales Could Improve on Auto, Industrial

At this time, it appears there is some improvement in auto and industrial, which could help Analog Devices (NYSE:ADI) generate more sales.

UBS says, "Based on our checks, we believe auto & industrial (-60% of sales) are holding up better than we had modelled & consequently we are raising our estimates & PT, but remain Neutral based on valuation...For F1QE, we raise our Rev/EPS to $738m/67c, from $728m/65c (Cons $728m/65c). For F2011E, we raise Rev/EPS to $2,998m/$2.73 from $2,944m/$2.58 (cons $2,950m/$2.63) and for F2012E to $3,164m/$2.90 from $3,088m/$2.68."

UBS reiterates their "Neutral" rating on Analog Devices (ADI), which closed Thursday at $38.93, dropping $0.11, or 0.28 percent. UBS raised their price target on Analog Devices from $36 to $40.