Citi raised the firm’s price target on NXP Semiconductors (NXPI) to $275 from $210 and keeps a Buy rating on the shares as part of a Q2 earnings preview for the semiconductor group. The firm increased estimates, saying prior assumptions that tariffs would drive to a slowdown in the sector does not appear to be happening. Citi expects a sector upturn driven by solid demand and inventory replenishment. The analyst sees the most upside in Microchip (MCHP) and Texas Instruments (TXN).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NXPI:
- NXP Semiconductors price target raised to $276 from $250 at UBS
- NXP Semiconductors: A Stable Buy with Growth Potential Amid Cyclical Recovery
- NXP Semiconductors price target raised to $250 from $225 at Cantor Fitzgerald
- NXP Semiconductors completes acquisition of TTTech Auto
- NXP Semiconductors price target raised to $250 from $240 at Wells Fargo