Bernstein analyst Stacy Rasgon raised the firm’s price target on NXP Semiconductors (NXPI) to $240 from $220 and keeps a Market Perform rating on the shares. The firm notes NXP’s Q4 results were decent. Auto was however below, with Industrial/IoT mostly in line, Mobile above and Comms Infrastructure slightly above. Channel inventory grew sequentially to 10 weeks, Bernstein adds.
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