Baird Raises Texas Instruments Price Target to $300

Baird analyst Tristan Gerra raised the price target on Texas Instruments (NASDAQ: TXN) to $300.00 (from $225.00) while maintaining an Outperform rating.

“We have confidence in the current upcycle lasting at least throughout this year. 2Q26 revenue guidance matches the 2Q22 prior peak, yet current cycle is so far entirely unit driven.

Tech supply chain inventory days have continued to decline, exiting 2025 anywhere between 3-5 year lows depending on end-markets/segments.

Inventory rebuilds have yet to happen in the supply chain. In contrast, inventory days were significantly higher in 2Q22.

Finally, we have not seen an upcycle ending before pricing picks up across analog, a trend which has yet to unfold. Outperform-rated.”

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