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UPDATE: Citigroup Raises PT to $34 on Texas Instruments on Industrial Demand Improvement

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Report: Texas Instruments Might Do Big Deal

Citigroup reiterated its Buy rating on Texas Instruments (NASDAQ: TXN) and raised its price target from $31 to $34.

Citigroup noted, "While TI's unchanged guidance is unlikely to inspire investors, we argue that indicators increasingly point to a more positive bias for "traditional chip stocks." Specifically, we are encouraged by green shoots of industrial demand improvement, below consumption chip shipments, and a green flashing estimate revision ratio for the group. To be sure, macro remains a noticeable uncertainty. But we believe risk/reward is leaning toward the long side and we advise clients to use pullbacks to initiate positions."

Texas Instruments closed at $29.82 on Monday.

Latest Ratings for TXN

DateFirmActionFromTo
May 2015Mizuho SecuritiesInitiates Coverage onNeutral
Apr 2015Raymond JamesUpgradesMarket PerformStrong Buy
Apr 2015Bank of AmericaDowngradesNeutral

View More Analyst Ratings for TXN
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

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