Jefferies boosted estimates and its price target on Buy-rated NXP Semiconductors NV (NASDAQ: NXPI) from $28 to $36 following Q4 results.
The firm comments, "NXPI posted DecQ EPS beat of $0.02 and guided for MarQ EPS to be $0.04 above consensus. NXP's HPMS business posted 32% YY growth, well above its peers, and the company is focused on driving operating leverage in 2013. We model 440 bps and 670 bps of gross and operating margin leverage over the next 4 quarters. We also view NXPI as a Moore Stress beneficiary, and reiterate Buy."
The firm raiesd Q3 EPS from $0.47 to $0.49, FY13 from $2.44 to $2.67 and FY14 from $2.87 to $3.39.