UPDATE: ISI Group Raises PT on Texas Instruments Post Mid-Quarter Update on Sales and EPS

ISI Group maintained Texas Instruments

with a Buy rating and raised the price target from $37.00 to $39.00. ISI Group said, "Management raised its prior outlook of $2.69b to $2.91b (-6% qoq to the midpoint)to $2.80B to $2.91B. In terms of specifics, the company continues to expect a sharp sequential decline to come from recently exited wireless segments but less than the 450bps decline initially expected. […] On the EPS line, TI raised its guidance for a range of $0.24-$0.32 (GAAP) inclusive of one time charges and benefits to $0.28 to $0.32, consistent with the higher sales outlook." Texas Instruments closed at $35.17 on Thursday.