Truist analyst William Stein raised the firm’s price target on NXP Semiconductors (NXPI) to $310 from $255 and keeps a Buy rating on the shares. The company’s Q1 results beat consensus by a wider margin while its broad-based semi inflection is boosted by emerging idiosyncratic exposure to AI and data centers, the analyst tells investors in a research note. NXP Semi’s channel business also appears to have done very well, considering the outperformance of the Industrial/IoT end market, the firm added.
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