On July 14, Texas Instruments rose 4% in pre-market trading, trading at $309.84/share, with turnover of $1.1574 million. The move was driven by KeyBanc raising its price target from $325 to $390 while maintaining an Overweight rating, establishing the highest target among Wall Street analysts.
KeyBanc's upgrade marks the latest in a wave of institutional bullishness. TD Cowen raised its target from $300 to $360 on July 13, Cantor Fitzgerald lifted its target from $300 to $340 on July 8, UBS raised from $295 to $350 in late June, STIFEL moved from $340 to $360, and Citigroup raised from $280 to $345. The FactSet consensus mean target now stands at $305.60. On the fundamental side, Citigroup previously noted that Texas Instruments is positioned to benefit from supplying power management chips to NVIDIA in the second half of the year.
The company is scheduled to report second-quarter earnings on July 22 after market close, with consensus EPS expected at $1.90. In Q1, Texas Instruments posted revenue of $4.825 billion, up 18.58% year-over-year, with net income of $1.545 billion, up 31.04%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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