Deutsche Bank Announces Texas Instruments Mid Quarter Update

Deutsche Bank released a research report on Texas Instruments Incorporated

announcing its mid-quarter update to lower guidance range. In the report Deutsche Bank writes, “On its mid-qtr update TXN lowered its 3Q rev outlook to -4.5% q/q from +2.5% prior, a greater than expected decline as demand weakness has broadened. While we do not view this adjustment as TXN-specific and expect the co to manage through the period relatively well, we retain our Hold rating until clarity into the duration and impact of this adjustment (esp on margins) becomes more apparent.” Deutsche Bank has a Hold rating and a $25.80 price target on Texas Instruments Incorporated, which is trading at $25.87.