Kaufman Starts Texas Instruments (TXN) at Hold; $26 Target
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Kaufman Bros. initiates coverage on Texas Instruments (NYSE: TXN) with a Hold rating and a $26 price target.
The firm calls Texas Instruments a "leading share vendor in large key semiconductor markets", but also notes that strong growth and share gains in the high performance analog and power semiconductors group have been somewhat-dampened by the HVAL business suffering from share loss. Kaufman believes that "TXN faces very strong entrenched competition in all its key markets, though the company has very strong leading share positions."
Texas Instruments Incorporated engages in the design and sale of semiconductors to electronics designers and manufacturers worldwide.
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