Texas Instruments (TXN) PT Raised to $140 at Stifel but Elevated Inventory Keeps Hold Rating

Stifel analyst Tore Svanberg raised the price target on Texas Instruments (NASDAQ: TXN) to $140.00 (from $125.00) while maintaining a Hold rating as supply chain buildup remains a risk for future misses should demand sharply trail off.

The anlayst stated "Inventory up q/q at 166 days of inventory (vs. 144 days in Q1), owing to TI’s “optionality” strategy and also resulting in higher GMs at 156bps above 62.7% in prior quarter and thus higher OM’s at 37.9%".

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