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UPDATE: Wedbush Raises PT on Texas Instruments, Order Patterns for 2013 Showing Improvement

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In a report published on Monday, Wedbush reiterated outperform rating on (NYSE: TXN) and raised price target from $37.00 to $39.00.

Wedbush reported that, “TI guided Q1 rev to a range of $2.69B to $2.91B (-9% to -2% Q/Q) and pro forma EPS to be in a range of $0.24 to $0.32 (midpoint of $2.80B/$0.28). With our checks pointing to improving order patterns in February and replenishment orders post Chinese New Year, we look for TI to up its guidance to the higher end of the range at its Q1 mid-quarter update on March 7.”

Texas Instruments closed at $34.18 on Friday.

Latest Ratings for TXN

DateFirmActionFromTo
Jan 2017Credit SuisseUpgradesNeutralOutperform
Dec 2016Summit Redstone PartnersInitiates Coverage OnBuy
Dec 2016SusquehannaInitiates Coverage OnPositive

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Posted-In: Wedbush Equity ResearchAnalyst Color Price Target Analyst Ratings

 

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