Texas Instruments price target raised to $167 from $165 at Truist

Truist raised the firm’s price target on Texas Instruments to $167 from $165 and keeps a Hold rating on the shares. The company’s Q1 results topped consensus but its Q2 outlok was “mixed”, reflecting “normal seasonality” while signalling a “likely” cycle bottoming, the analyst tells investors in a research note. Texas Instruments’ valuation on recovery estimates isn’t cheap and there is no great reason to turn constructive, but the firm’s “better than a bond” thesis on the stock persists, Truist adds.