Wedbush Reiterates Outperform Rating, $39 PT on Texas Instruments on Mid-Quarter Update

In a report published Friday, Wedbush reiterated its Outperform rating and $39.00 price target on Texas Instruments (NASDAQ: TXN).Wedbush noted, “In-line with our expectations, Texas Instruments (TXN) narrowed top and bottom line guidance to the upper half of its prior guidance ranges at the Q1 mid-quarter update with TI noting improved order trends from Dec and Jan have continued with orders growing strongly YTD. With the semi cycle recovery still in the very early stages, we see TI as our best big-cap stock for investors to play the overall recovery as TI benefits from higher utilization rates pushing GM higher and market share gains driving a return to Q/Q earnings and revenue growth.”Texas Instruments closed on Thursday at $35.20.