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
|Jul 2016||JP Morgan||Maintains||Neutral|
|Jul 2016||Summit Redstone Partners||Initiates Coverage on||Buy|
|Jun 2016||Bank of America||Downgrades||Buy||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.