In a report published on Monday, Sterne Agee analyst Vijay Rakesh raised the price target on Texas Instruments TXN from $30 to $31 and maintained a rating of Underperform.
In the report, Sterne Agee stated, "TXN's JuneQ mid-quarter update tightened its guide to the midpoint. We should note that while its key industrial segment is improving q/q into JunQ, its recovery continues to lag peers, with 1H13/2H12 revenues growing 3%, well below peer industrial growth of ADI growing 1H13/2H12 at ~8.2% (almost 2x TXN)."
Texas Instruments closed on Monday at $36.62.
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