Sterne Agee Has Positive Outlook For NXP Semiconductors NV

In a report published Wednesday, Sterne Agee analyst Vijay Rakesh reiterated a Buy rating and $74.00 price target on

. In the report, Sterne Agee noted, “We believe NXPI should have a solid JunQ and guide SepQ above consensus given: 1) strong automotive trends, 2) stronger industrial-4G trends in U.S. and China, 3) a significant iPhone NFC build and EMV rollouts in U.S. and China and conservative 3Q14 consensus top line ahead of significant product ramps. Combined with strong underlying fundamentals in Auto-industrial and multiple NFC-EMV product cycles, NXPI continues to trade at attractive 20-30% discount valuations. Reiterating our Buy-$74PT.” NXP Semiconductors NV closed on Tuesday at $65.67.