UBS Analyst Raises Price Target On Texas Instruments Incorporated (TXN)
Analyst Stephen Chin of UBS reiterated a Buy rating on Texas Instruments Incorporated (NASDAQ:TXN) with a raised price target of $76, marking a 15% increase from current levels.
This raised price target came after the company’s 2Q earnings report that showed the company beat expectations. Auto, industrial and communications segments pushed up TXN’s earnings. These increases offset a decline in personal electronics. After the earnings the company raised its guidance for revenue and EPS to $3.48 billion and $0.86 for 3Q16. Chin expects this success to continue as the company “ continues to maintain a strong design win position in the auto market with strength in infotainment and power management, with higher content a key growth driver.” The analyst also thinks that TXN’s broad-based industrial segment is performing well.
According to TipRanks, Chin has a success rate of 61% with an average return of 4% per recommendation.