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Fly News Breaks for November 18, 2015
BRCM, NXPI
Nov 18, 2015 | 08:14 EDT
FBR Capital analyst Christopher Rolland replaced Broadcom (BRCM) with NXP Semiconductors (NXPI) on his firm's Top Picks list. The analyst saw a stabilization of lead times for NXP in October and thinks a two-quarter inventory drawdown could drive a better than expected "bounceback" beginning in Q2 or Q3 of 2016. He lowered his price target for shares to $105 from $115 and keeps an Outperform rating on the name. Rolland has an Outperform rating on Broadcom with a $58 price target.
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