Texas Instruments (TXN) PT Raised to $370 at Stifel on Q3 Revenue Beat

Stifel analyst Tore Svanberg raised the price target on Texas Instruments (NASDAQ: TXN) to $370.00 (from $360.00) while maintaining a Buy rating.

The analyst commented, "TXN printed a 3Q26 revenue beat, with sales of $6.06bn (+2.6% higher than our $5.90bn estimate), representing a +10.8% q/q increase with all end markets growing sequentially.Guided 4Q26E above expectations, with revenue midpoint of $6.05bn (-0.1% q/q), +7.9% higher than our prior $5.61bn estimate, and well above TXN's 5-yr avg typical 4Q seasonality of -5.4% q/q.Investment Conclusion: TXN delivered an impressive quarter of strong FCF, with TTM FCF reaching $8.4bn (vs. $2.4bn in 3Q25), as the analog upcycle appears well in progress. In our view, the print underscores that TXN's heavy capex cycle is behind it, a timely dynamic as investors remain focused on capital returns, with cash being a key consideration.We reiterate our Buy rating and increase our 12-month target price to $370 (from $360), representing a 30.6x CY27E P/FCF multiple, which we believe is an appropriate metric for TXN as management prioritizes maximizing shareholder returns."

You May Also Be Interested In

• Applied Industrial Technologies (AIT) PT Lowered to $360 at KeyBanc
• Innio NV (INIO) PT Lowered to $35 at BNP Paribas Exane
• Clearwater Paper (CLW) PT Lowered to $22 at RBC Capital