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Loop starts NXP at Buy, says ‘checks boxes’ in secular growth drivers
The Fly

Loop starts NXP at Buy, says ‘checks boxes’ in secular growth drivers

Loop Capital initiated coverage of NXP Semiconductors (NXPI) with a Buy rating and $300 price target Like other automotive-levered semiconductor companies/stocks, NXP has been a consensus short since the end of 2023, or once automotive tier-ones began bringing down days of inventory hold, the analyst tells investors in a research note. While cyclical headwinds may limit NXP’s bounce off the bottom, the firm believes investors should overweight stocks/companies with high exposure to the automotive end market and overweight the companies exposed to the fastest growing automotive trends. NXP checks many of these boxes in automotive secular growth drivers, the firm adds.

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