Texas Instruments price target raised to $185 from $175 at Jefferies

Jefferies analyst Blayne Curtis raised the firm’s price target on Texas Instruments to $185 from $175 and keeps a Hold rating on the shares. The recovery is taking longer in Industrial/Auto, but Texas Instruments had an uplift from Personal Electronics to help keep guidance in line, the analyst tells investors. There is a view that TI saw the correction first and therefore should be quicker to exit, but “that doesn’t seem to be the case here,” added the analyst, who thinks an earlier capital markets day planned for August should “reinvigorate hopes of a revised capex strategy.”