Barclays analyst Tom O’Malley raised the firm’s price target on NXP Semiconductors (NXPI) to $220 from $190 and keeps an Overweight rating on the shares following the company’s earnings report, telling investors that management “sounded even more confident on a broader recovery.” The firm thinks concerns on execution and auto exposure that have led to a widening of valuation between NXP and peers like Analog Devices (ADI) and Texas Instruments (TXN) are “unwarranted,” the analyst added.
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