Truist lowered the firm’s price target on NXP Semiconductors (NXPI) to $230 from $258 and keeps a Buy rating on the shares. The CEO departure and mixed tariff-vs-cycle dynamics are driving stock volume, but the firm sees NXP’s fundamentals as intact, the analyst tells investors in a research note. The firm noted that two concerns are driving stock weakness, namely the surprise retirement of CEO Kurt Sievers and the cyclical recovery that is discussed as offsetting tariffs, but believes that such concerns are temporary.
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