UBS Cuts Estimates and Price Target on Texas Instruments (TXN); Demand Concerns
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Price: $36.62 -0.03%
Rating Summary:
11 Buy, 23 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Rating Summary:
11 Buy, 23 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 24 | New: 24
Trade TXN Now!
UBS maintains a 'Neutral' on Texas Instruments (NASDAQ: TXN) price target of $30.00 (from $35.00).
Analyst, Uche Orji, said, "TXN tightened its outlook for 2Q to Rev/EPS of $3.28-3.42B/32-36c, vs. prior of $3.22–3.48B/30-38c. The company indicated that the orders are trending in line with expectations and inventory in the channel remains low at 6.5 weeks as distributors and OEMs are hesitant to restock inventories. Despite TI’s commentary of stable end-market trends, we remain concerned about end-demand, as leading indicators such as PMI from US, China and Euro Zone point to a weakening demand environment."
UBS lowers FY12 EPS estimate from $1.82 to $1.77 and FY13 from $2.19 to $2.05.
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 $27.65 yesterday, with a 52 week range of $24.34-$34.24.
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Analyst, Uche Orji, said, "TXN tightened its outlook for 2Q to Rev/EPS of $3.28-3.42B/32-36c, vs. prior of $3.22–3.48B/30-38c. The company indicated that the orders are trending in line with expectations and inventory in the channel remains low at 6.5 weeks as distributors and OEMs are hesitant to restock inventories. Despite TI’s commentary of stable end-market trends, we remain concerned about end-demand, as leading indicators such as PMI from US, China and Euro Zone point to a weakening demand environment."
UBS lowers FY12 EPS estimate from $1.82 to $1.77 and FY13 from $2.19 to $2.05.
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 $27.65 yesterday, with a 52 week range of $24.34-$34.24.
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