Citigroup lifts J Sainsbury target, lowers onsemi price forecast

Citigroup analysts raised the target price for UK retailer J Sainsbury plc to GBX 346 from GBX 330, maintaining a neutral rating. The adjustment suggests a modest downside of about 1.3% from the previous close and follows other recent upgrades, such as Deutsche Bank’s buy rating at GBX 360 and UBS’s buy at GBX 395.

In a separate note, Citigroup cut its price target for semiconductor maker onsemi (NASDAQ:ON) to $98 from $120, also keeping a neutral rating. The new target implies a potential upside of roughly 26% from the current share price. Other firms have issued varied targets, with Cantor Fitzgerald at $110 and UBS at $95.