Rosenblatt Raises Texas Instruments Price Target to $330

Rosenblatt analyst Kevin Cassidy raised the price target on Texas Instruments (NASDAQ: TXN) to $330.00 (from $240.00) while maintaining a Buy rating.

“Texas Instruments delivered a strong beat-n-raise as the company was able to respond to increasing industrial and data center demand.

In our view, management’s long term strategy for building manufacturing capacity and inventory seems to be delivering, and the company may outperform peers during this upcycle.

Management pointed to stable average selling prices both Q/Q and Y/Y. This is a tailwind to profitability for a business that would typically see ~4% ASP decline Y/Y.

We are increasing our estimates and 12-month target price to $330 (from $240).”

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