Texas Instruments (TXN) PT Raised to $196 at Truist Securities

Truist Securities analyst William Stein raised the price target on Texas Instruments (NASDAQ: TXN) to $196.00 (from $171.00) while maintaining a Hold rating.

The analyst commented: "For TXN, suddenly, tariffs matter. - It seems something changed mid-qtr. Last qtr and throughout Q2, our interpretation of TXN's message was "tariffs schmariffs". Management characterized demand as strong, customer inventories as lean, and tariffs as mere noise. Now, unless TXN delivers significant upside to Q3 guidance, or sales growth re-accelerates later, the Q2 result looks like peak growth this cycle! My, how fast things have changed. Now, Q2 strength appears more tariff pull-in than demand, and our industry contacts (component buyers/sellers) who said tariffs mattered seem a little more correct. CY26 EPS to $6.12 (fr. $6.46); PT to $196 (fr. $171), based on 32x (consistent 10x prem. to S&P)."

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