UBS raised the firm’s price target on NXP Semiconductors to $230 from $211 and keeps a Neutral rating on the shares. NXP continues to expect 2024 to be a “soft landing” with FY24 revenues flattish vs. positive growth previously, suggesting further deterioration entering the year vs. three months ago, but consistent with peers, the analyst tells investors in a research note. The firm believes the risk/reward is fairly balanced.
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