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UPDATE: Deutsche Bank Initiates Buy on NXP Semiconductors on Steady Performance

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Deutsche Bank initiated coverage on NXP Semiconductors (NASDAQ: NXPI) with a Buy rating and a price target of $30.

Deutsche Bank commented, "We believe NXP can continue to deliver consistent revenue/margin growth and deleverage its B/S through solid execution and focus on attractive mixed-signal mkts. While NT headwinds exist (soft macro, likely lack of NFC in the iPhone 5, potential 4Q channel inventory burn), we believe these issues are factored into our ests and the share price. Looking into 2013, a combination of aboveindustry growth, margin expansion and debt reduction should drive upside to Street ests and allow the stock to close its ~20% valuation gap vs. peers."

NXP Semiconductors closed at $22.96 on Tuesday.

Latest Ratings for NXPI

DateFirmActionFromTo
May 2015Mizuho SecuritiesInitiates Coverage onBuy
May 2015BernsteinInitiates Coverage onOutperform
Apr 2015Stifel NicolausMaintainsBuy

View More Analyst Ratings for NXPI
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Initiation Intraday Update Analyst Ratings

 

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