Fly News Breaks for March 2, 2020
Mar 2, 2020 | 09:13 EDT
NXP Semiconductors yesterday became the first semiconductor company to reduce its Q1 outlook due to coronavirus impact, lowering guidance by $50M-$150M, Bernstein analyst Stacy Rasgon tells investors in a research note. Given the chaos caused by the virus, "it feels that it could have been worse," says the analyst. Rasgon does not view the news as a shock given the current situation and keeps an Outperform rating on NXP with a $155 price target.
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