UPDATE - UBS Downgraded Texas Instruments (TXN) to Neutral; Margin Upside Limited; Prefer ADI & MXIM
Tweet
Share
E-mailGet Alerts TXN Hot Sheet
Price: $163.67 -1.23%
Rating Summary:
18 Buy, 23 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
18 Buy, 23 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Join SI Premium – FREE
UPDATE - UBS downgraded Texas Instruments (NASDAQ: TXN) from Buy to Neutral. PT cut from $37 to $35.
UBS analyst said, "While we remain positive on the sector, we point out that wireless infrastructure (~20% of rev) remains weak, & the pace of industrial (~18% of rev) recovery is not fast enough as weakness in China offsets strength in the US. Although we expect inventory restocking and Chinese wireless infrastructure spending in late 2Q to help drive revenue, we believe at current valuation, the upside is priced-in."
"We lower TXN’s 2012/13E Rev/EPS(pf) to $13B/$1.65 (cons $13.5B/$1.74)/ $14B/$2.15 (cons $.14.7B/$2.36), from $13.4B/$1.71/ $14.4B/$2.25."
UBS prefers names with margin leverage including Analog Devices (NYSE: ADI) and Maxim Integrated (Nasdaq: MXIM).
To see more ratings on TXN, Click Here
UBS analyst said, "While we remain positive on the sector, we point out that wireless infrastructure (~20% of rev) remains weak, & the pace of industrial (~18% of rev) recovery is not fast enough as weakness in China offsets strength in the US. Although we expect inventory restocking and Chinese wireless infrastructure spending in late 2Q to help drive revenue, we believe at current valuation, the upside is priced-in."
"We lower TXN’s 2012/13E Rev/EPS(pf) to $13B/$1.65 (cons $13.5B/$1.74)/ $14B/$2.15 (cons $.14.7B/$2.36), from $13.4B/$1.71/ $14.4B/$2.25."
UBS prefers names with margin leverage including Analog Devices (NYSE: ADI) and Maxim Integrated (Nasdaq: MXIM).
To see more ratings on TXN, Click Here
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CLSA Upgrades BNK Financial (138930:KS) to Outperform (2)
- IDP Education (IEL:AU) (IDPUF) PT Lowered to AUD17.60 at JPMorgan
- Johnson & Johnson upgraded to Buy at HSBC on 'asymmetric risk and attractive upside'
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
UBSSign 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!
