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Fly News Breaks for April 12, 2018
NXPI, QCOM
Apr 12, 2018 | 07:01 EDT
Citi analyst Christopher Danely resumed coverage of Qualcomm (QCOM) with a Neutral rating and $58 price target. The analyst believes the proposed acquisition of NXP Semiconductors (NXPI) could eventually drive earnings accretion of roughly 44% or $1.52, but he does not have confidence in the $500M in synergies. Danely expects a host of integration difficulties given differences in manufacturing, customer base, and NXP's merger with Freescale.
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