Wedbush Raises Price Target on TI (TXN), Sees Q3 Inline But Anticipates Large Upside in Guidance
Tweet Send to a FriendGet Alerts TXN Hot Sheet
Price: $35.78 +0.85%
Rating Summary:
12 Buy, 22 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
12 Buy, 22 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade TXN Now!
Wedbush is reaffirming its Outperform rating on shares of Texas Instruments (NYSE: TXN) and is raising its price target from $33 to $36 ahead of its third quarter results.
The company is scheduled to release its quarterly results following the closing bell today with a conference call planned for at 5:30 pm ET.
The firm forecasts TI will report its quarterly results largely inline with its updated guidance on September 8 and the consensus of $3.33 billion in sales and $0.58 per share in earnings. Wedbush's current third quarter estimates are $3.344 billion in sales with $0.55 per share in earnings.
Due to the acquisition of National, the firm believes that management's fourth quarter guidance will top expectations. After factoring in the acquisition, Wedbush now forecasts EPS of $0.61 for the fourth quarter, $2.27 for fiscal 2011, and $2.79 for fiscal 2012, up from $0.53, $2.19, and $2.35 previously. The current earnings consensus for the fourth quart, fiscal 2011, and 2012 is $0.54, $2.24, and $2.41.
An analyst at Wedbush comments, "We maintain our positive position on TI as we continue to believe it is one of the better positioned big caps to navigate the uncertain environment. We think that when macro headwinds clear, TI will outgrow the semi industry driven by share gains in Analog, synergies from acquisition of National, strong position in the mobile ecosystem with OMAP, and healthy balance sheet with operational leverage in the model."
For more ratings news on Texas Instruments click here and for the rating history of Texas Instruments click here.
Shares of Texas Instruments closed at $30.46 yesterday, with a 52 week range of $24.34-$36.71.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The company is scheduled to release its quarterly results following the closing bell today with a conference call planned for at 5:30 pm ET.
The firm forecasts TI will report its quarterly results largely inline with its updated guidance on September 8 and the consensus of $3.33 billion in sales and $0.58 per share in earnings. Wedbush's current third quarter estimates are $3.344 billion in sales with $0.55 per share in earnings.
Due to the acquisition of National, the firm believes that management's fourth quarter guidance will top expectations. After factoring in the acquisition, Wedbush now forecasts EPS of $0.61 for the fourth quarter, $2.27 for fiscal 2011, and $2.79 for fiscal 2012, up from $0.53, $2.19, and $2.35 previously. The current earnings consensus for the fourth quart, fiscal 2011, and 2012 is $0.54, $2.24, and $2.41.
An analyst at Wedbush comments, "We maintain our positive position on TI as we continue to believe it is one of the better positioned big caps to navigate the uncertain environment. We think that when macro headwinds clear, TI will outgrow the semi industry driven by share gains in Analog, synergies from acquisition of National, strong position in the mobile ecosystem with OMAP, and healthy balance sheet with operational leverage in the model."
For more ratings news on Texas Instruments click here and for the rating history of Texas Instruments click here.
Shares of Texas Instruments closed at $30.46 yesterday, with a 52 week range of $24.34-$36.71.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Citi Raises PT on Micron Technology (MU) to $19
- Deutsche Bank Comments on AT&T's (T) Rumored Offer for Telefónica (TEF)
- Price Stability for Micron (MU) Means a Higher Stock Price - Jefferies
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Earnings
Login with Facebook
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!
