Stifel Raises Texas Instruments Price Target to $340
Stifel analyst Tore Svanberg raised the price target on Texas Instruments (NASDAQ: TXN) to $340.00 (from $290.00) while maintaining a Buy rating.
“This week, we travelled with Texas Instruments’ Mike Beckman, VP and Head of IR, for a series of investor meetings.
Our key takeaways center on (i) the broadening of the industrial recovery in 1Q26 with management’s explicit emphasis on sustainability vs. last year’s ‘false start’; (ii) the continued ascent of the Data Center business, now ~12% of revenue and tracking toward a $2bn annualized run-rate, with XPU power representing the next leg of secular opportunity, followed by 800VDC (GaN-enabled); (iii) a measured tone on pricing, with management characterizing TXN as a price follower rather than a leader; (iv) capacity and inventory positioning that should support a wide range of demand scenarios; and (v) a structural pivot toward FCF/share growth as the elevated CapEx cycle winds down.
Our report is bifurcated into two parts: (i) high-level themes from management discussions, and (ii) topic-specific commentary.”
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