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UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Texas Instruments

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In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Texas Instruments (NASDAQ: TXN), and raised its price target from $35.00 to $40.00.

Jefferies noted, “The Bear argument that TXN is expensive on a P/E basis ignores the high quality of earnings that comes through TI's cash flow statement. In 2012, free cash flow of $2.9b was 54% higher than net income, and we expect FCF to exceed net income again in 2013 due in part to CapEx underfunding depreciation by $400m and $200m in lower pension funding. Reiterate Buy.”

Texas Instruments closed on Tuesday at $33.46.

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: Jefferies & CompanyAnalyst Color Price Target Analyst Ratings

 

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