UPDATE: Pacific Crest Securities Initiates Coverage on NXP Semiconductors NV with Outperform Rating, $45 PT on Multiple Opportunities for Growth and Margin Expansion

In a report published Friday, Pacific Crest Securities analyst John Vinh initiated coverage on

with an Outperform rating and $45.00 price target. In the report, Pacific Crest Securities noted, “NXP has multiple opportunities to grow at above-industry rates, with increasing margin leverage, which makes it a compelling investment. We are initiating coverage of NXPI at Outperform with a $45 price target.” NXP Semiconductors NV closed on Thursday at $37.86.