Wells Fargo downgraded NXP Semiconductors (NXPI) to Equal Weight from Overweight with a price target of $235, down from $265. The firm believes improving investor sentiment creates a “tough setup” into earnings for the analog semiconductor names. Wells cites a weaking auto backdrop for the downgrade of NXP.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NXPI:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Midday Fly By: Netflix slumps as co-founder Hastings announces exit
- Apple upgraded, Qualcomm downgraded: Wall Street’s top analyst calls
- Closing Bell Movers: Netflix down 9% as Q2 outlook misses, Hastings leaves board
- Mizuho double downgrades NXP to sell on auto headwinds