Will This Price Target Increase Help Freescale Semiconductor (FSL) Today?

Story updated at 9:35 a.m. to reflect market activity.

NEW YORK (TheStreet) -- Drexel Hamilton raised its price target for Freescale Semiconductor (FSL) to $30 Wednesday, maintaining a "buy" rating for the chipmaker.

Shares of Freescale gained 0.4% to $22.98 in morning trading.

The analyst firm also raised its estimates for the company through 2015. Rising capacity utilization should help Freescale's margins according to Drexel Hamilton.

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FSL ChartFSL data by YCharts

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