- The shares of NXP Semiconductors NV (NASDAQ: NXPI) have received a $220 price target from Barclays. These are the details.
The shares of NXP Semiconductors NV (NASDAQ: NXPI) have received a $220 price target from Barclays. And Barclays analyst Blayne Curtis is maintaining an “Overweight” rating on the shares.
Curtis adjusted the rating while noting that with semiconductor earnings starting, he sees demand holding in for most names but does not see the cycle as priced in yet and would remain selective. And Curtis cut the price targets across the group to reflect the pullback in the shares.
Plus Curtis still does not know if the first true cut comes later this year or in 2023 but with cracks already evident in the largest end markets of smartphones and PCs, he does not see 2024 as some companies suggest. Curtis believes soon they could see 20%-40% earnings cuts and noted that needs to be reflected in multiples today.
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