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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Read More on NXPI:
- NXP Semiconductors initiated with a Buy at Loop Capital
- NXP Semiconductors price target lowered to $285 from $300 at TD Cowen
- NXP Semiconductors price target lowered to $252 from $287 at Truist
- NXP Semiconductors price target lowered to $275 from $285 at UBS
- NXP Semiconductors price target lowered to $250 from $260 at Susquehanna
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