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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 17:50 EDT
Oppenheimer analyst Rick Schafer is keeping his Perform rating on NXP Semiconductors after the company reduced its expectations for Q1 due to coronavirus, noting that while the impact remains difficult to quantify due to the fluidity of the situation, he also sees it as being transitory. The analyst also cites high macro uncertainty behind his neutral stance, adding that after a 7% year-to-date decline in the stock price, NXP Semiconductors' current valuation of 13-times his expected forward earnings is at the midpoint of its historical range.
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