BUZZ-NXP Semiconductors rises; Morgan Stanley upgrades to 'overweight'

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Shares of chipmaker NXP Semiconductors NXPI.O rise 3.2% to $217.75 in early morning 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

Twenty-three of 32 brokerages rate the stock "buy" or higher and nine "hold"; their median PT is $250

The stock fell 9.5% in 2024