NXP Semiconductors price target lowered to $285 from $300 at Deutsche Bank
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NXP Semiconductors price target lowered to $285 from $300 at Deutsche Bank

Deutsche Bank lowered the firm’s price target on NXP Semiconductors (NXPI) to $285 from $300 and keeps a Buy rating on the shares after NXP delivered on its guidance but provided a softer outlook for the second consecutive quarter. Weakening macro conditions and softer guides have been “pervasive across the broad-based semi sector this earnings season,” but the firm had expected NXP’s previous conservative approach to yield greater insulation, so it finds the Q4 guide and implied 1Q outlook “disappointing.” Still, despite this disappointment, Deutsche believes the company is “properly and transparently responding,” sees the headwinds as systematic and not NXP specific, and expects financial performance to benefit from the eventual improvement in macro conditions, the analyst tells investors.

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