UPDATE: Canaccord Genuity Reduces PT to $25 on Texas Instruments
Canaccord Genuity reiterated its Hold rating on Texas Instruments (NASDAQ: TXN) and lowered its price target from $28 to $25.
Canaccord Genuity said, "We remain HOLD rated on TXN and lower our estimates and price target following the company's guidance below consensus. We believe the analog vertical market will remain price competitive and track below seasonal demand, likely requiring further reductions to our estimates."
Texas Instruments closed at $27.79 on Monday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.