In a report published Wednesday, Sterne Agee analyst Vijay Rakesh reiterated a Buy rating and $82.00 price target on NXP Semiconductors NV NXPI.
In the report, Sterne Agee noted, “NXPI was off on Ford's (F) lower Russia/SA profit outlook (~2.5% exposure), though F did NOT change its global auto sales outlook. Note GM analyst day is 10/1. We believe U.S./China/Europe auto sales continue to be strong. Ford focusing on connected cars positions NXPI well, with recent GM and Delphi wins. Also note EMV/NFC catalysts with 1) BofA ramping EMV on all debit cards into DecQ, 2) 10/21 iPad launch, and 3) a significant buyback. All position NXPI well into DecQ. Reiterate Buy-$82PT.”
NXP Semiconductors NV closed on Tuesday at $68.43.
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