NXP Semiconductors NV (NXPI) PT Raised to $100 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh raised the price target on NXP Semiconductors NV (NASDAQ: NXPI) to $100.00 (from $95.00) while maintaining a Neutral rating.

The analyst commented, "NXPI reported MarQ results that were inline and guided to JunQ, rev/EPS of $2.2B/53.3% vs. consensus of $2.2B/53.1%. MarQ upside was mostly China handsets and 5G. MarQ auto/industrial were down 8%/14% y/y, and are expected flat to up mid-single digit q/q in the JunQ. While NXPI remains cautious on the China macro it noted potential for a better 2H in Europe and China autos. We believe industrial and autos remain challenged and below NXPI's expectations. Maintaining our Neutral rating, adjusting estimates, and our PT to goes to $100 from $95."

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