Despite Lackluster Q3 Results and Guidance Texas Instruments (TXN) Can Now Outperform - Jefferies

Jefferies reiterated its Buy and raised its price target on on Texas Instruments (NYSE: TXN) from $35 to $40 following Q3 results and a light outlook after the close.

The firm said while they expect investors to be disappointed with the flat QoQ revenue guidance, they would use any weakness to by the stock. History has proven that the stocks upward bounce off the bottom often surprises. With expectations so low, expanding gross margins and cash flows, and $3.00 of earnings power they think Texas Instruments stock starts to outperform from here.

For more ratings news on Texas Instruments click here and for the rating history of Texas Instruments click here.

Shares of Texas Instruments closed at $31.69 yesterday.

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