Deutsche Bank Maintains a 'Hold' on Texas Instruments (TXN); 4Q11 Results: Snapback Coming, but Already Priced In
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Price: $279.58 +2.25%
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
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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Deutsche Bank maintains a 'Hold' on Texas Instruments (NASDAQ: TXN) price target raised from $28 to $30.
Deutsche analyst says, "For the second consecutive qtr, TXN delivered better than feared results and indicated a cyclical bottom was forming in its business. While we agree that 1Q will likely be the bottom for TXN’s business, but the absolute level of that bottom is lower than expected on both revenue (mainly due to baseband) and EPS. We expect TXN to gain share in its core business and deliver positive EPS leverage off of this 1Q bottom, but view this “snapback” as being fairly reflected in its current share price."
"...we model 1Q12 rev/PF EPS ests at $3.15b/$0.32 (ex-10c charges) vs prior $3.25b/$0.40. On revised outlook, we adjust our CY12 rev/PF EPS ests to $13.9b (+1% y/y)/$1.90 vs. prior $13.8b/$2.00. Our CY13 rev/PF EPS ests stand at $14.8b (+7% y/y)/$2.50."
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 $33.19 yesterday.
Deutsche analyst says, "For the second consecutive qtr, TXN delivered better than feared results and indicated a cyclical bottom was forming in its business. While we agree that 1Q will likely be the bottom for TXN’s business, but the absolute level of that bottom is lower than expected on both revenue (mainly due to baseband) and EPS. We expect TXN to gain share in its core business and deliver positive EPS leverage off of this 1Q bottom, but view this “snapback” as being fairly reflected in its current share price."
"...we model 1Q12 rev/PF EPS ests at $3.15b/$0.32 (ex-10c charges) vs prior $3.25b/$0.40. On revised outlook, we adjust our CY12 rev/PF EPS ests to $13.9b (+1% y/y)/$1.90 vs. prior $13.8b/$2.00. Our CY13 rev/PF EPS ests stand at $14.8b (+7% y/y)/$2.50."
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 $33.19 yesterday.
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