UPDATE: Stifel Nicolaus Raises PT to $40 on Texas Instruments on More Focused Guidance for Q1

Stifel Nicolaus maintained Texas Instruments TXN with a Buy rating and raised the price target from $38.00 to $40.00. Stifel Nicolaus noted, "TI narrowed its 1Q revenue guidance during the company's scheduled mid-quarter update to the upper half of its original range; EPS impacted by $0.06 in related to charges associated with the restructuring of its Wireless business and also includes a discrete tax benefit of $0.06 from the reinstatement of the R&D tax credit. … Revenue guidance suggests order patterns continue to improve (from low levels) on slight uptick in the demand environment; Co. building backlog, implying B:B>1.0." Texas Instruments closed at $35.20 on Thursday.