Sterne Agee is out with its report today on Texas Instruments TXN, maintaining Buy.
In a note to clients, Sterne Agee writes, "We are lowering C2Q11 revenues/EPS to $3.43B/$0.54 from $3.50B/$0.61, and lowering C11E modestly to $14.42B/$2.52 from previous $14.49B/$2.59. Our C12E remains unchanged at $15.5B/$3.15. Maintaining our Buy rating and $40 price target, 13x our C12E EPS, versus the historical 5-year mean of 9-45x P/E. We believe baseband revenues decreasing as a % of revenues should drive better TXN gross margins with better product mix."
At the time of posting, shares of TXN were trading pre-market at $32.71, up 0.12% from Wednesday's close.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorAnalyst RatingsInformation TechnologySemiconductorsSterne Ageetexas instruments
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in