Texas Instruments price target lowered to $175 from $192 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Texas Instruments (TXN) to $175 from $192 and keeps an Underweight rating on the shares. The firm expected some margin pressure in the December quarter, but the weaker revenue outlook “was a surprise,” the analyst tells investors in a post-earnings note. The firm remains concerned that gross margins and cash flow will stay “weaker for longer” and argues that “domestic capacity is not the panacea for global tariffs.”