Texas Instruments price target lowered to $210 from $225 at JPMorgan

JPMorgan lowered the firm’s price target on Texas Instruments (TXN) to $210 from $225 and keeps an Overweight rating on the shares. The company reported solid September quarter results with better revenue but in-line earnings, the analyst tells investors in a research note. The firm says Texas Instruments’ outlook indicates the second consecutive quarter of deceleration in year-over-year growth, which is atypical at the early stages of a cyclical recovery. This is “disappointing but not unexpected,” adds JPMorgan. It believes the company’s “conservative” guidance reflects macro uncertainty. The firm reduced estimates post the earnings print.