Texas Instruments price target raised to $180 from $170 at JPMorgan

JPMorgan raised the firm’s price target on Texas Instruments to $180 from $170 and keeps an Overweight rating on the shares. The company reported slightly lower than expected sales for the December quarter, driven by accelerating weakness in industrial and softening in automotive shipments as customers continued inventory adjustments, the analyst tells investors in a research note. The firm continues to believe “that we are near the bottom of the cycle and heading into an up-cycle.”