- Citi analyst Christopher Danely downgraded NXP Semiconductors NV (NASDAQ:NXPI) to Neutral from Buy with a price target of $190, down from $240 (6.8% upside), as his margin expansion thesis has played out.
- Danely derived his Buy thesis in February 2021 from the anticipation of superior margin/EPS upside and strength from the automotive end market. He expects auto strength to continue for a while.
- However, NXP’s margins were near the peak, and it would be difficult for the stock to outperform until a correction resets the bar.
- Danely lowered his target multiple and price target given narrow margin and EPS upside.
- Price Action: NXPI shares closed higher by 3.12% at $178.65 on Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Citi Downgrades NXP Semiconductors - Read Why
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks