NXP Semiconductors price target raised to $299 from $293 at Morgan Stanley

Morgan Stanley raised the firm’s price target on NXP Semiconductors (NXPI) to $299 from $293 and keeps an Overweight rating on the shares. Semiconductor distributors have increasingly reported price hikes, inventory builds, lead time extensions, and supply constraints, which supports strong December and March quarter results and “a clearer path to a recovery acceleration,” the analyst tells investors.