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UPDATE: Deutsche Bank Raises PT on Freescale Semiconductor Following Management Meetings

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In a report published Thursday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Freescale Semiconductor (NYSE: FSL), and raised the price target from $15.00 to $20.00.

In the report, Poole noted, “Management meeting takeaways - FSL appears poised to hold share in 2013 and perhaps make gains in some focus markets such as Digital Networking and RF. The company is highly exposed to service provider spending, but is not relying on a single customer or geography for growth. Share gains, margin tailwind (DN & RF + for GM), and continued deleveraging of the balance sheet can deliver EPS growth through 2014 even in a mixed demand environment. We raise P/T to $20 and reiterate Buy rating. Although FSL is not immune to macro headwinds, the company has multiple company-specific EPS drivers.”

Freescale Semiconductor closed on Wednesday at $14.47.

Latest Ratings for FSL

DateFirmActionFromTo
Mar 2015Piper JaffrayDowngradesOverweightNeutral
Jan 2015Credit SuisseMaintainsOutperform
Jan 2015Deutsche BankMaintainsBuy

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Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

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