Stifel Raises Texas Instruments Price Target to $290
Stifel analyst Tore Svanberg raised the price target on Texas Instruments (NASDAQ: TXN) to $290.00 (from $250.00) while maintaining a Buy rating.
“TXN printed a 1Q26 revenue beat, with sales of $4.83bn (+7.2% higher than our $4.50bn estimate), representing a +9.1% q/q increase with all end markets and geographies improving sequentially. • Raised 2Q26E guide, with revenue midpoint of $5.20bn (+7.8% q/q), +8.0% higher than our prior $4.82bn estimate, and higher than TXN’s 5-yr avg typical 2Q seasonality of +6.0% q/q. • Investment Conclusion: We believe today’s print validates our view that TXN is entering the next analog upcycle phase, even as the company benefits from (i) marching through the tail-end of its elevated CapEx cycle; (ii) secular growth in end markets such as Data Center, and (iii) improving gross margins. • Overall, we reiterate our Buy rating, with updated 12-month Price Target of $290 (from $250), representing a 29.0x CY27E P/FCF multiple, which we believe is an appropriate metric for TXN as management prioritizes maximizing shareholder returns.”
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