UPDATE: Sterne Agee Reiterates Buy Rating, Raises PT on NXP Semiconductors
In a report published Friday, Sterne Agee Group reiterated its Buy rating on NXP Semiconductors (NASDAQ: NXPI), and slightly raised its price target from $30.00 to $31.00.
Sterne Agee noted, “NXPI continues to be a story much beyond NFC, with continued focus on Automotive and Identification markets growing at 1.5x the overall semiconductor market, along with a broad deleveraging, driving broad EPS upside. NXPI at its Analyst Day today reiterated its C3Q12 guide, while also laying out a rational path to $4+ EPS with significant cash flow improvement, given achievable, operational and top-line targets. We are raising our estimates and PT to $31.”
NXP Semiconductors closed on Thursday at $26.43.
Latest Ratings for NXPI
|Dec 2014||Oppenheimer||Initiates Coverage on||Outperform|
|Dec 2014||Stifel Nicolaus||Maintains||Buy|
|Nov 2014||Bank of America||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.