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Analysts raise Texas Instruments targets after earnings

Published 01/24/2018, 11:39 AM
© Reuters.  Analysts raise Texas Instruments targets after earnings
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  • Drexel Hamilton raises its Texas Instruments (TXN -6.7%) price target by $20 to $130.
  • Firm believes yesterday’s earnings report was positive with broadly healthy demand, normal seasonality, and no signs of channel or inventory concerns.
  • B. Riley raises its TXN target from $97 to $110 and expects strong CY18 y/y Analog growth.
  • In the sector, B. Riley prefers Microchip Technology (MCHP -2.7%) (Buy, $123 price target) and ON Semiconductor (ON -1.5%) (Buy, $25 price target).
  • Mizuho raises its target from $96 to $107, calling lower taxes a big tailwind for 2018-19.
  • The firm stays on the sidelines due to shares trading at 25x FY18E P/E but notes that TXN’s strong auto and industrial business showings should be positive for Cypress Semi (CY -3.2%), On Semiconductor, and Autoliv (ALV +0.5%).
  • Source: Briefing.com.
  • Previously: Texas Instruments -5.4% after Q4 results, in-line guidance (Jan. 23)
  • Now read: Semiconductor Stock Risks & Returns: An Understanding Today


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