NXP Semiconductors (NXPI) PT to $50 at Jefferies

October 25, 2013 12:38 PM EDT Send to a Friend
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Price: $64.18 --0%

Rating Summary:
    18 Buy, 1 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 18 | New: 11
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Jefferies analyst Mark Lipacis boosted estimates and his price target on Buy-rated NXP Semiconductors NV (NASDAQ: NXPI) frm $42 to $50 following Q3 results.

"SepQ revs increased by 5.1% QQ, slightly below consensus, but EPS of $0.85 beat by $0.04 due mostly to better GM (46.8% vs. 46.1%) and OpEx," Lipacis notes. "At the midpoint, the outlook for DecQ revs of $1.265B is 130bps above the Street, and EPS of $0.95 is above consensus by $0.04, due to better GM (49.3% vs. 48.5%). We like NXPI's product cycles and the deleveraging story."

The firm lifted Q4 EPS from $0.88 to $0.94, FY 2013 EPS from $2.97 to $3.06 and FY 2014 EPS from$3.80 to $4.07.

For an analyst ratings summary and ratings history on NXP Semiconductors NV click here. For more ratings news on NXP Semiconductors NV click here.

Shares of NXP Semiconductors NV closed at $39.58 yesterday.


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