
Shares of chipmaker NXP Semiconductors NXPI.O rise 3.3% to $218.01 in premarket trading
Morgan Stanley upgrades NXPI to "overweight" from "equal weight"; hikes PT to $257 from $231
Brokerage says that cyclical and secular tailwinds are aligning for NXPI
"With customer inventory digestion largely behind them, we think NXP is set up well to outgrow auto semis in 2025," Morgan Stanley says
23 of 32 brokerages rate the stock "buy" or higher, 9 "hold"; their median PT is $250
Stock had fallen 9.5% in 2024