NXP Semiconductors price target raised to $265 from $235 at Wells Fargo

Wells Fargo analyst Joe Quatrochi raised the firm’s price target on NXP Semiconductors (NXPI) to $265 from $235 and keeps an Equal Weight rating on the shares. The firm notes shares traded up after hours post a better-than-expected Q2 guide reflective of a continued demand recovery and acceleration in auto via content per vehicle. Renewed confidence in NXP’s 2027 target model is likely to lift expectations and require continued upward estimate revisions, Wells adds.