Topeka Capital Starts NXP Semiconductors NV (NXPI) at Buy

Topeka Capital initiated coverage on NXP Semiconductors NV (NASDAQ: NXPI) with a Buy rating and a price target of $36.50.

Analyst Suji De Silva said, "While computing and industrial segments remained weak in 1Q13, we expect demand to stabilize and steadily improve in 2H13, removing a revenue headwind. We believe any recovery in wireless infrastructure in 2H13 represents upside to our current model. We believe that NXPI has done a good job reducing its debt burden since coming public in 2010. Important Disclosures."

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 $30.10 yesterday.

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