Market Overview

UPDATE: Blaylock Robert Van Initiates Coverage on NXP Semiconductors with Buy Rating, $30 PT

Related NXPI
Bank Of America Analyst Sees Slower FY15 Growth For Semiconductor Group
Fast Money Picks For December 12: Costco, Rentech Nitrogen, Spirit Airlines, NXP Semiconductors

In a report published Friday, Blaylock Robert Van initiated coverage on NXP Semiconductors (NASDAQ: NXPI) with a Buy rating and $30.00 price target.

Blaylock RV noted, “We are initiating coverage of NXP Semiconductors (Ticker: NXPI) with a BUY rating, as we believe that the company will deliver revenue to outgrow the industry given its #1 position in nine application areas, system solutions (secure elements, IP, application ecosystems), strong demand for its HPMS due to the trends in end markets and penetration into new high growth applications. On the bottom line, accelerating operating margin expansion and capital structure de-leverage will continue to drive non-GAAP EPS leverage. Our price target of $30 is derived by applying EV/sales multiple of 2.3x, the peer average, to our 2013 estimates.”

NXP Semiconductors closed on Thursday at $26.06.

Latest Ratings for NXPI

DateFirmActionFromTo
Dec 2014OppenheimerInitiates Coverage onOutperform
Dec 2014Stifel NicolausMaintainsBuy
Nov 2014Bank of AmericaMaintainsBuy

View More Analyst Ratings for NXPI
View the Latest Analyst Ratings

Posted-In: Blaylock Robert VanAnalyst Color Initiation Analyst Ratings

 

Related Articles (NXPI)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional