Deutsche Bank Maintains Buy On Freescale Semiconductor Shares, $27 PT
In a research report issued today, Deutsche Bank analyst Ross Seymore maintained a Buy rating on Freescale Semiconductor (NYSE:FSL) with a price target of $27.
Seymore observed, “FSL delivered a solid quarter with a $0.05 EPS beat driven by better GM and lower opex. Unfortunately, the company is not immune to macro weakness and guided 4Q revs worse than we expected. Despite near term revenue headwind, we continue to view FSL as a company that is righting the ship on revenue, focusing on gross margin progression and opex discipline, which should result in better free cash flow to further de-lever the balance sheet and unlock earnings power. Consequently, we maintain our Buy rating. “
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Ross Seymore has a total average return of 29.1% and a 72.9% success rate. Seymore has a -16.1% average return when recommending FSL, and is ranked #39 out of 3343 analysts.