Texas Instruments price target raised to $156 from $150 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Texas Instruments to $156 from $150 and keeps an Underweight rating on the shares. The firm continues to see analog and MCU shipments bottoming out in Q2, but with multiples expanding, estimate revisions are likely to drive returns from here and the firm is taking a more selective approach in analog semiconductors, the analyst tells investors.