UPDATE: UBS Starts Freescale Semiconductor (FSL) at Neutral; Solid L-T Opportunities, But N-T Limited

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(Updated - August 28, 2012 9:52 AM EDT)

UBS initiates coverage on Freescale Semiconductor (NYSE: FSL) with a Neutral. PT $11.75.

Analyst, Steven Eliscu, said, "We believe share price appreciation is likely to be limited given few near-term catalysts in a weak macro and a multi-year turn-around that is still in progress. While we applaud the recent appointment of CEO Gregg Lowe and believe he can implement changes to drive longer-term growth, the primary impact is likely 1-3 years out."

For an analyst ratings summary and ratings history on Freescale Semiconductor click here. For more ratings news on Freescale Semiconductor click here.

Shares of Freescale Semiconductor closed at $10.45 yesterday, with a 52 week range of $8.43-$17.84.

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