Mizuho Raises Texas Instruments Price Target to $255
Mizuho analyst Vijay Rakesh raised the price target on Texas Instruments (NASDAQ: TXN) to $255.00 (from $215.00) while maintaining a Neutral rating.
“TXN reported a strong MarQ with revenue at $4.83B, vs. consensus of $4.52B and guided JunQ to $5.20B, up ~8% q/q, above consensus of $4.85B.
Key takeaways: 1) Industrial and Data Center STRONG, up 20% and 25% q/q in MarQ as we had noted (LINK); 2) Industrial (~35% of Revs) and Data Center (12% of Revs) driving continued JunQ upside, 3) JunQ GM potentially up 150bps q/q at 59.5% after a strong MarQ with TXN noting incremental margins at 75-85%; 4) 2026E pricing potentially flat to up slightly y/y given current demand dynamics.
Maintain Neutral, raise estimates/PT to $255 (prior $215), ~31x (prior ~27x) C27E P/E as we see DC/industrial strong, but 2H26E could see some challenges with PC/handset/auto exposure.”
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