Stifel lowered the firm’s price target on NXP Semiconductors (NXPI) to $231 from $260 and keeps a Hold rating on the shares following quarterly results. The firm remarked that the price target change highlights “the persistent industry downcycle” continuing to impact its coverage, particularly with large cap companies. Stifel told investors that NXP still has a long way to go before being fully “out of the woods.”
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