NXP Semiconductors has a strong growth runway ahead, according to Loop Capital.
Analyst Gary Mobley initiated coverage of the Netherlands-based semiconductor manufacturing and design company with a buy rating and $300 price target.
That forecast suggests more than 32% upside for the stock, which is down more than 1% year to date.
Now, with the stock at current levels, it may be an attractive entry point for investors, Mobley said.
"NXPI checks many of these boxes in automotive secular growth drivers," he said.
Persons:
Gary Mobley, Mobley
Organizations:
Semiconductors, Capital
Locations:
Netherlands