NXP Semiconductors price target raised to $205 from $175 at Oppenheimer

Oppenheimer analyst Rick Schafer raised the firm’s price target on NXP Semiconductors to $205 from $175 and keeps an Outperform rating on the shares after its Q4 earnings beat. The company’s Q1 revenue was below consensus due to China slowdowns, but NXP Semi is prudently managing its inventory, the analyst tells investors in a research note, adding that its channel inventory remained 1.6 months, which is where products carry low risk of obsolescence. The firm further notes that pricing is expected to be a tailwind again for NXP Semiconductors this year.