Credit Suisse Upgrades Texas Instruments (TXN) to Outperform

Credit Suisse upgraded Texas Instruments (NASDAQ: TXN) from Neutral to Outperform with a price target of $95.00 (from $77.00).

Analyst John Pitzer says " We are upgrading TXN to OP from N, raising our CY17 EPS to $3.65 from $3.40 (GAAP EPS), well ahead of Street of $3.42 - and increasing our PT to $95 from $77. Our upgrade is based upon: (1) CY17 Street Estimates that are wrong and too low – under modeling both Rev Growth and OpM Leverage, (2) Continued dominant franchise position which skews risk to duration not fundamentals, (3) Our view that TXN is positioned to benefit from potential Tax Reform and (3) Solid downside support at ~$70 or a 3% dividend yield. We see a very favorable 5/1 upside/downside in shares at these levels.

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 $74.15 Friday.

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