Jefferies Raises Price Target on Texas Instruments (TXN) Following 3Q Report

October 27, 2016 10:30 AM EDT
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Price: $74.38 -0.15%

Rating Summary:
    25 Buy, 19 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Jefferies reiterated a Buy rating on Texas Instruments (NASDAQ: TXN), and raised the price target to $82.00 (from $79.00), following the company's 3Q earnings report. Revenues of $3.68B were 550bps above consensus' $3.49B while EPS of $0.95 were 9c above. TXN's 4Q16 outlook for revenues were in line with consensus estimate of $3.3b, while EPS of $0.81 at the midpoint is above consensus of $0.79.

Analyst Mark Lipacis commented, "SepQ revs/EPS $3.7B/$0.95 beat consensus $3.5B/$0.86. DecQ rev outlook of $3.3b (-10% seq.) is in line with consensus while EPS of $0.81 at the midpoint is 2c above. The company increased its dividend by 32% and is skewing capital return to dividends. We think its neutral balance sheet means it has capacity to add leverage should it find an acceptable M&A target. Reiterate Buy."

For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.

Shares of Texas Instruments closed at $71.71 yesterday.

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