Sterne Agee Sees Multiple Tailwinds for NXP Semiconductors NV

In a report published Wednesday, Sterne Agee analyst Vijay Rakesh reiterated a Buy rating and $82.00 price target on

. 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.