Pacific Crest raised its price target on NXP Semiconductors after the company announced that it would acquire Freescale Smiconductor (FSL) for $11.8B. The firm says the deal significantly increases its confidence in NXP's longer term outlook, partly because it thinks that NXP's diversification away from mobile creates sustainable long-term growth opportunities for the company. The firm keeps an Outperform rating on NXP.
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here