Goldman Sachs Maintains Buy, $21 PT on NXP Semiconductors
Goldman Sachs reiterates its Buy rating and $21 price target on NXP Semiconductors (NASDAQ: NXPI) as the company works on integrating WiFi technology to enable cars to communicate with one another on the road, with the primary purpose of improving safety.
Goldman Sachs says, "802.11p is the WiFi protocol for use between cars, and NXP is integrating software with its own 802.11p silicon in order to deliver a system that can be deployed in cars. One example, should a car two cars in front of the one that you are driving slam on the brakes, your car would brake also. The company believes such systems could start being deployed as early as 2013."
NXPI closed at $17.44 per share on Tuesday.
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