Texas Instruments (TXN) Q2 Viewed as 'Solid'

Goldman Sachs today maintained a Neutral rating on Texas Instruments (NASDAQ: TXN) and raised its price target to $38.00 (from $36.00). Comments follow Texas Instruments Q2 results, viewed as "solid".

"We think TI's commentary on improving customer order visibility is very encouraging, and it is consistent with our view that we are in the early stages of a cyclical recovery driven by lean supply conditions," said analyst James Covello.

"Importantly, we think TI is executing very well on its plan of re-focusing on its core analog and embedded processing businesses, and the company is doing an excellent job with capital allocation. We believe the stock can still move higher from current levels but remain Neutral given relatively full valuation," he added.

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 $37.42 yesterday.

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