In a report published Friday, Nomura reiterated its Neutral rating on Texas Instruments TXN, and raised its price target from $26.00 to $28.00.
Nomura noted, “The stock in our view is pricing in a solid recovery at 21x. TI tightened its Q1 revenue guidance to the upper half of the previous range and raised EPS from $0.28 to $0.30. Management believes the revenue upside is a reflection of improving end demand. TI expects growth to continue in Q2. The seasonal average growth for its core business is up 8-9% q/q. In our view, a key driver for TI‟s share performance is gross margin.”
Texas Instruments closed on Thursday at $35.20.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in