Cantor Fitzgerald Reiterates Neutral on Texas Instruments, $340 PT
Cantor Fitzgerald analyst Matthew Prisco reiterated a Neutral rating and $340 price target on Texas Instruments (NASDAQ: TXN).
“We believe TXN remains a consensus Long today within the Analog space – with bulls citing DC power exposure, capacity leverage, FCF inflection, and 2H pricing uptick.
Beat and raise is widely expected, and we are hearing some agreement around our concern if seasonal+ (think a couple pts above) will be good enough for meaningful outperformance based on expectations and positioning.
Primary areas of pushback to the bull thesis seems centered around sustainability of 90% Y/Y DC growth seen in 1Q, magnitude/breadth of pricing increase in 2H, and valuation which at this point is a bit more full.”
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