Morgan Stanley analyst Joseph Moore lowered the firm’s price target on Texas Instruments to $138 from $156 and keeps an Underweight rating on the shares. TI continues to underperform peers on both revenue and margins, says the firm, which thinks that TI faces some pressures not seen by peers. December guidance was below both the firm’s estimates and consensus, notes the analyst, who revised down FY24 estimates “considerably” following the company’s Q3 report.
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