Citi analyst Christopher Danely upgraded NXP Semiconductors (NXPI) to Neutral from Sell with a price target of $210, up from $200. The company reported Q4 results slightly above estimates due to strength from China but guided below consensus due to exiting lower-margin products in the Communications segment, the analyst tells investors in a research note. The firm says consensus estimates have now fallen roughly 30% from the peak and are “only” 10% above Citi’s numbers. As a result, the firm upgraded the shares to Neutral, believing most of the downside is in estimates and the stock.
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Read More on NXPI:
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- NXP Semiconductors price target raised to $260 from $257 at Goldman Sachs
- NXP Semiconductors price target lowered to $245 from $264 at Truist
- NXP Semiconductors price target lowered to $235 from $255 at BofA
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