UPDATE - Nomura Securities Upgraded Texas Instruments (TXN) to Neutral; Feeling More Positive After Investor Meeting
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Price: $265.60 -0.69%
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
24 Buy, 22 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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UPDATE - Nomura Securities upgraded Texas Instruments (NASDAQ: TXN) from Reduce to Neutral, price target raised from $30 to $34.
Analyst, Romit Shah, said, "...Incrementally more positive following investor meeting. Management appears to be more optimistic about the remainder of 2012 where they see broad-based improvement in several GDP sensitive markets and expect a pre-build in core wireless in 2H. Additionally, a richer product mix and lower depreciation should drive gross margin of at least 55% this cycle vs. our current Q2 estimate of 49.5%. Our scenario analysis implies earnings of $2.50-$3.00 in 2013. Our 2012E/2013E EPS is $1.78/$2.20 vs. Street at $1.78/$2.37. PT of $33 is based on 15x CY13 EPS."
To see more ratings on TXN, Click Here
Analyst, Romit Shah, said, "...Incrementally more positive following investor meeting. Management appears to be more optimistic about the remainder of 2012 where they see broad-based improvement in several GDP sensitive markets and expect a pre-build in core wireless in 2H. Additionally, a richer product mix and lower depreciation should drive gross margin of at least 55% this cycle vs. our current Q2 estimate of 49.5%. Our scenario analysis implies earnings of $2.50-$3.00 in 2013. Our 2012E/2013E EPS is $1.78/$2.20 vs. Street at $1.78/$2.37. PT of $33 is based on 15x CY13 EPS."
To see more ratings on TXN, Click Here
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