Cowen Says Qualcomm. NXP Semi Headlines Consistent with Views (QCOM) (NXPI)

Cowen and Company affirms Qualcomm (Nasdaq: QCOM) at Outperform with a price target of $74 following additional NXP Semi (Nasdaq: NXPI) chatter on Thursday night.

The firm commented, While a deal is not certain, a series of headlines ... regarding price and structure are very consistent w/our pro-forma assumptions; e.g. a 75%+ cash deal that is ~20-25% accretive at ~$115-120/share w/$750MM synergies and the PF company ~2.5x levered on C2018 on a gross basis. Integration of a fabless and integrated producer is far from trivial, but this would be transformational for QCOM.

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

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