Piper Jaffray raises its NXP Semiconductors (NASDAQ:NXPI) price target from $100 to $110 calling the company "one of the most underappreciated in the semiconductor industry."
The firm is "extremely comfortable" with NXP's ability to meet estimates in the Q1 report with automotive concerns "largely overblown." NXP also stands to "disproportionately" benefit from any US-China trade resolution.
NXP will report earnings on April 29. Consensus estimates have revenue at $2.09B with $1.55 EPS.
NXPI shares are mostly flat pre-market at $98.60.
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