UPDATE: Canaccord Genuity Reiterates Hold Rating, Raises PT on Texas Instruments on Mid-Quarter Update

In a report published Friday, Canaccord Genuity reiterated its Hold rating on Texas Instruments (NASDAQ: TXN), and raised its price target from $33.00 to $35.00.Canaccord Genuity noted, “TXN mid-quarter raise backs our view that diversified analog semiconductors continue to see healthy trends, despite weakness in the electronics supply chain for high volume vertical markets like PCs, tablets, and smartphones. We continue to recommend a more defensive stance near term as we believe product cycle names could underperform based on weak supply chain activity. Our favorite analog names are ADI (low exposure to above areas of weakness) and ONNN (continuing benefits from weakening Yen).”Texas Instruments closed on Thursday at $35.20.