BofA lowered the firm’s price target on Texas Instruments to $175 from $195 and keeps a Neutral rating on the shares. The firm sees a “tricky set-up” for semiconductor stocks heading into Q3 earnings season, though it calls Compute/AI the “best neighborhood.” A multiple at the high-end of its comps group range is warranted based on TI’s “best in class” free cash flow generation and returns and based on incremental cash flow from U.S. CHIPS Act grants, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TXN:
- Bank of America Offers Rundown of Chip Stocks to Buy
- Worldwide PC shipments drop 9% in Q3, but expected to grow in Q4, Gartner says
- Texas Instruments price target lowered to $170 from $190 at Evercore ISI
- AMD (NASDAQ:AMD) Races Ahead as the Chip Sector Gets Optimistic
- Texas Instruments call volume above normal and directionally bullish