Jefferies Comments on TI (TXN) Following Analyst Day, Gains Confidence in NSM Integration
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Price: $279.58 +2.25%
Rating Summary:
24 Buy, 22 Hold, 5 Sell
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Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies is maintaining its Buy rating and $40 price target on shares of Texas Instruments (NYSE: TXN) following the company's analyst day at the NSM campus in Santa Clara.
The firm reports that they left the conference more confident that management was effectively executing to the playbook on its NSM acquisition. The company noted that NSM share loss prior to the acquisition was mainly due to smaller sales force and business policies which made it difficult to do business with NSM.
Analog chief Gregg Lowe highlights the pipeline with NSM. Mr. Lowe stated that the company had multiple "sleeping beauties."
An analyst at Jefferies comments, " Lowe indicated that the baseline assumption for determining whether the NSM acquisition would make financial sense was continued share loss for the 1st four quarters, share stabilization for the 2nd four quarters, and share gains for the 3rd four quarters. Lowe also indicated that TXN's internal targets were higher than that baseline."
Jefferies forecasts earnings per share of $2.25 for FY11, $2.53 for FY12, and $3.20 for FY13. Sales for the three years is expected to total $13.72 billion, $15.07 billion, and $16.72 billion.
For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.
Shares of Texas Instruments closed at $31.15 yesterday.
The firm reports that they left the conference more confident that management was effectively executing to the playbook on its NSM acquisition. The company noted that NSM share loss prior to the acquisition was mainly due to smaller sales force and business policies which made it difficult to do business with NSM.
Analog chief Gregg Lowe highlights the pipeline with NSM. Mr. Lowe stated that the company had multiple "sleeping beauties."
An analyst at Jefferies comments, " Lowe indicated that the baseline assumption for determining whether the NSM acquisition would make financial sense was continued share loss for the 1st four quarters, share stabilization for the 2nd four quarters, and share gains for the 3rd four quarters. Lowe also indicated that TXN's internal targets were higher than that baseline."
Jefferies forecasts earnings per share of $2.25 for FY11, $2.53 for FY12, and $3.20 for FY13. Sales for the three years is expected to total $13.72 billion, $15.07 billion, and $16.72 billion.
For an analyst ratings summary and ratings history on Texas Instruments click here. For more ratings news on Texas Instruments click here.
Shares of Texas Instruments closed at $31.15 yesterday.
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