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Fly News Breaks for February 20, 2018
QCOM, AVGO, NXPI
Feb 20, 2018 | 09:03 EDT
SunTrust analyst William Stein raised his price target on NXP Semiconductors (NXPI) to $127.50, matching the revised offer from Qualcomm (QCOM) which he believes was "widely anticipated by investors". The analyst also contends that the tender offer complicates Broadcom's (AVGO) bid for Qualcomm, though will not necessarily deter it from the acquisition, given its ability to divide up the acquired assets and sell off the parts it does not want. Stein keeps his Hold rating on NXP Semiconductors.