Truist Securities Raises Texas Instruments Price Target to $278
Truist Securities analyst William Stein raised the price target on Texas Instruments (NASDAQ: TXN) to $278.00 (from $225.00) while maintaining a Hold rating.
“A recovery you no longer need to imagine; PT to $278; Great qtr, but we look elsewhere for even more gearing.
TXN delivered an excellent CQ1 result & CQ2 guide, as demand strength broadened from AI/DC to industrial. See our sector update that told investors the same story last week.
It’s great for TXN and semis broadly, but we expect the trends to be even better for suppliers with more gearing (those with lower margins or margins that haven’t recovered yet).
For TXN we take our CY27 EPS to $8.68 (from $7.50); PT to $278 (from $225) based on 32x (3x discount to now-elevated peers).
Investors should view our Hold rating in the context of “everything is getting better in semis”.”
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