Citadel reiterated its Reduce rating and PT of $29 on Texas Instruments TXN.
In a research report published today, Citadel states, "Given its sell-in revenue recognition model and expectations for an increase in already
elevated internal inventories... TI's earnings could be among the most sensitive to supply
chain perturbations and channel inventory changes (that we anticipate) going forward... No change to our below consensus EPS estimates
of $2.30 and $2.45 for 2011 and 2012, respectively. Reiterate Reduce rating and $29
price target."
On Wednesday, Texas Instruments lost 1.8% of its value to close the day at $32.67. In today's pre-market trading, its shares rebounded slightly, however, rising 0.18% to $32.73.
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