Deutsche Bank Reports on Texas Instruments

Deutsche Bank commented on Texas Instruments TXN in a report released yesterday. In the report, Deutsche Bank was mixed in its assessment of the company. Deutsche Bank writes, "TXN's 2Q outlook was for sales to be in the range of +1-9% q/q ($3.41- $3.69bn), which was lower than typical seasonality of +8% and below mgmt's original plan to guide for "low double digit" q/q growth. This more conservative outlook was given to reflect the potential impact of the Japan quake (10% of TXN revs). While we expect the tragic situation in Japan to be a headwind in 2Q, our recent checks indicate that business conditions have improved more quickly than feared and therefore are likely to represent upside to TXN's guidance." Deutsche Bank currently has a Hold rating on Texas Instruments and a price target of $35. Shares of Texas Instruments closed at $33.32 on Monday, down $0.18 from the opening bell.