Morgan Stanley lowered the firm’s price target on NXP Semiconductors (NXPI) to $235 from $250 and keeps an Equal Weight rating on the shares. The company guided December quarter results below the firm’s estimates and sees the March-end quarter to be down a seasonal high-single digit percentage as the company is facing headwinds across automotive and industrial and IoT end markets, the analyst tells investors. NXP “isn’t immune to auto headwinds,” says the firm, whose estimates have been revised down following the quarterly report.
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Read More on NXPI:
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