Citigroup commented on Texas Instruments TXN in a report released yesterday. In the report, Citigroup was positive in its assessment of the company.
Citigroup writes, "Wholly attributable to Nokia's share/ASP issues, TI's reduction in
guidance is having limited impact on shares (indeed shares have risen in the aftermarket). In general, we view TI's mid-quarter as a non-event, leaving our non-Nokia
views unchanged and sector outlook unchanged. As such, we expect typical seasonal
weakness to dominate near-term chip trading, perhaps exacerbated by the de-risking
evident in the market."
Citigroup currently has a Buy/Medium Risk rating on Texas Instruments and a price target of $40. Shares of Texas Instruments closed at $32.67 on Wednesday.
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 |
---|
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