JPMorgan Says Texas Instruments (TXN) Won't Be Harmed by Nokia (NOK) Warning
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Price: $266.28 -0.44%
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 13 | New: 20
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An analyst at JPMorgan just issued a research note suggesting Texas Instruments (NYSE: TXN) will not likely see any impact from Nokia's (NYSE: NOK) Q2 warning.
The analyst said the firm already modeled for Texas Instrument's sales from its wireless unit to decrease on the heels of weak results at Nokia.
JPMorgan maintains an Overweight rating and $44 price target on shares of Texas Instruments.
Traders seem to be having some similar feelings as the JPMorgan analyst this afternoon: shares of Texas Instruments are up 1 percent to $35.10 while Nokia shares are down more than 13 percent.
The analyst said the firm already modeled for Texas Instrument's sales from its wireless unit to decrease on the heels of weak results at Nokia.
JPMorgan maintains an Overweight rating and $44 price target on shares of Texas Instruments.
Traders seem to be having some similar feelings as the JPMorgan analyst this afternoon: shares of Texas Instruments are up 1 percent to $35.10 while Nokia shares are down more than 13 percent.
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