UPDATE: Deutsche Bank Raises PT on Texas Instruments on Solid 1Q Results

In a report published Tuesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Texas Instruments

, and slightly raised the price target from $31.00 to $32.00. In the report, Poole noted, “TXN delivered solid 1Q results with slight upside to DBe coming from Wireless and to a lesser extend Embedded. Looking forward, 2Q was also in-line, with opex reductions being primary upside to EPS. While we expect TXN to continue streamlining operations with the Wireless exit, we believe this improved profitability and leverage are reflected in the stock's premium valuation.” Texas Instruments closed on Monday at $34.81.