Market Overview

UPDATE: Nomura Reiterates Neutral Rating, Raises PT on Texas Instruments on Mid-Quarter Update

Related TXN
Can Texas Instruments (TXN) Surprise This Earnings Season? - Analyst Blog
Technology Stock Roundup: Yahoo and AMD Soar Post Earnings Reports - Analyst Blog

In a report published Friday, Nomura reiterated its Neutral rating on Texas Instruments (NASDAQ: 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.

Posted-In: NomuraAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (TXN)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free