Canaccord Genuity Boosts Texas Instruments (TXN) Price Target to $33

Canaccord Genuity raised its price target on Texas Instruments (NASDAQ: TXN) from $28 to $33 but kept a Hold rating.

The firm comments, "With a lack of meaningful growth catalysts post the exit of OMAP for mobile devices, we reiterate a HOLD rating and increase our price target to $33. At 16x our newly introduced 2014 EPS estimate, we believe TXN is fairly valued in light of what we expect to be industry-lagging top-line growth."

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 $33.46 yesterday.

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