NXP Semiconductors NV (NXPI) PT Raised to $310 at Truist Securities
Truist Securities analyst William S. Stein raised the price target on NXP Semiconductors NV (NASDAQ: NXPI) to $310.00 (from $255.00) while maintaining a Buy rating.
The analyst commented: "Buy as the broad-based semi inflection is boosted by emerging idiosyncratic exposure; Buy here & now for the AI inflection. NXP's Q1 result beat consensus, and its Q2 guidance beat consensus by a wider margin. The company did precisely what it needed to do: highlight a not well understood exposure to AI/DC, express confidence in its growth, all while the rest of the business is benefitting from cyclical recovery (we upgraded our sector view here) and the stock is cheap vs. peers. What was previously "cheap with an uncertain catalyst" is now "cheap with a catalyst", making it a more obvious "Buy". Our CY27 EPS goes to $17.18 (from $15.92). PT to $310 (from $255) based on 18x (8x disc. to peers owing to still belowpeer growth)."