TD Cowen lowered the firm’s price target on NXP Semiconductors to $310 from $330 and keeps a Buy rating on the shares. The firm said the slope of the recovery is disappointing, but stock reaction feels overblown, and they think amplified by investors’ view of the shares as a place to hide within choppy broad-based semis.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NXPI: