ON Semi +1.3% following MKM bullishness

|About: ON Semiconductor Corporation (ON)|By:, SA News Editor

ON Semiconductor (NASDAQ:ON) is up 1.3% after MKM Partners assumed the stock at Buy.

Analyst Ruben Roy thinks the stock is attractively valued now, and sees near-term synergy coming from the company's deal for Fairchild.

He has a $20 price target, implying 33.5% upside from today's price.