J.P. Morgan Raises PT On NSM To $25

J.P. Morgan, citing strong F4Q11 results from the company, is raising its price target on National Semiconductor

from $15 to $25. Says J.P. Morgan, in its report, “Yesterday after the close, National reported solid F4Q11 results but did not provide specific F1Q12 guidance due to the company's pending acquisition by TI. However, National stated that bookings increased 21% QoQ, which supports our constructive stance on the semiconductor sector. We are reiterating our Neutral rating on NSM due to the pending acquisition.” As mentioned above, J.P. Morgan is maintaining its Neutral rating on the stock. NSM closed yesterday at $24.58.