Cantor Fitzgerald analyst Matthew Prisco raised the firm's price target on On Semi to $110 from $100 and keeps a Neutral rating on the shares. The AI infrastructure buildout is viewed as a generational semiconductor cycle that is both durable and extended by supply chain constraints, with expectations for faster-than-previously-forecast industry revenue expansion reaching roughly $3T by CY29 and potentially exceeding $3.5T by CY30, the analyst tells investors in a research note.
