NXP Semiconductors To Bear The Brunt Of Continued Weakness In China, Analyst Cautions On Slowing Auto Orders
Portfolio Pulse from Nabaparna Bhattacharya
Mizuho analyst Vijay Rakesh reiterated a Neutral rating on NXP Semiconductors (NXPI), lowering the price target to $210 from $225. Despite beating Q3 earnings and sales estimates, NXPI is expected to face headwinds due to slowing auto orders and continued weakness in China. The analyst also adjusted the company's December quarter and FY24 and FY25 estimates downwards. NXPI shares are trading lower by 1.54% to $182.94.
November 08, 2023 | 8:38 pm
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NXP Semiconductors is expected to face headwinds due to slowing auto orders and continued weakness in China. The company's price target has been lowered to $210 from $225.
The analyst's neutral rating and lowered price target indicate a cautious outlook for NXPI. The company is expected to face headwinds due to slowing auto orders and continued weakness in China, which could negatively impact its stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100