Jefferies Raises Price Target on Texas Instruments (TXN) Following 3Q Report
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
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."
Shares of Texas Instruments closed at $71.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Cuts Price Target on Workday (WDAY) to $71 Following 3Q
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- ULTA Salon (ULTA) PT Raised to $290 at Stifel But Remains Sidelined
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!