Deutsche Bank analyst Ross Seymore raised the firm’s price target on NXP Semiconductors to $200 from $185 and keeps a Buy rating on the shares. The company reported "solid" Q4 results but guided Q1 well below estimates as China COVID-related uncertainties coupled with strategic inventory control yield revenue headwinds, the analyst tells investors in a research note. However, the firm believes NXP is "adeptly navigating" the challenging environment to deliver realistic revenue expectations and "better-than-feared" profitability.
Published first on TheFly
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