Baird analyst Tristan Gerra raised the firm’s price target on Texas Instruments to $180 from $160 and keeps a Neutral rating on the shares. The analyst noted the company continues to build capacity to increase internal inventory levels to a targeted incremental $1B-$2B, in order to stabilize lead times. This demonstrates a continued upcycle environment, despite weak demand trends, and is uncharacteristic of a semi downcycle where oversupply negatively impacts lead times, pricing, and gross margin.
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