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UPDATE: Sterne Agee Reiterates Buy Rating, Raises PT on NXP Semiconductors

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Earnings Scheduled For October 22, 2014
Sterne Agee Sees Multiple Tailwinds For NXP Semiconductors NV

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

DateFirmActionFromTo
Oct 2014Canaccord GenuityMaintainsBuy
Aug 2014Goldman SachsDowngradesNeutralSell
Aug 2014Stifel NicolausInitiates Coverage onBuy

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Posted-In: Sterne Agee GroupAnalyst Color Price Target Analyst Ratings

 

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