RBC Capital Raises Price Target as Texas Instruments (TXN) Reports 3Q EPS Beat
RBC Capital reiterated an Outperform rating on Texas Instruments (NASDAQ: TXN), and raised the price target to $60.00 (from $58.00), following the company's 3Q15 earnings results. TXN reported results that were above expectations with revenues/EPS of $3.43B/ $0.76 vs. Street at $3.28B/ $0.68. TXN expects revenue/EPS of $3.07-$3.33B/$0.64-$0.74 vs. Street at $3.12B/$0.62 in 4Q.
Analyst Amit Daryanani commented, "TXN reported Sept-qtr results of $3.43B/ $0.76, which was above Street expectations on the revenue/EPS lines (Street at $3.28B/ $0.68). TXN guided revenues/EPS above Street expectations for the Decqtr at $3.07-3.33B/$0.64-$0.74 ($3.20B/$0.69 at the midpoints) vs. Street at $3.12B/$0.62."
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Shares of Texas Instruments closed at $51.90 yesterday.