BofA raised the firm’s price target on NXP Semiconductors to $270 from $255 and keeps a Buy rating on the shares. The company reported a Q4 earnings beat and a modest Q1 miss that shows NXP continues to execute on soft landing, the analyst tells investors in a research note. BofA adds that the firm remains confident in NXP Semi’s strong exposure to high-growth auto end markets despite near-term weakness.
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