Texas Instruments on Track for Growth, Recovery in Key Markets And More: Analyst
Portfolio Pulse from Anusuya Lahiri
JP Morgan analyst Harlan Sur reiterated an Overweight rating on Texas Instruments (TXN) with a price target increase to $230. The company showed solid June quarter results, indicating a cyclical recovery. Key markets like Auto and Industrial are recovering, and China has rebounded strongly. Texas Instruments guided a 7% Q/Q sales increase for the September quarter, aligning with seasonal trends. The company is expanding its manufacturing footprint and expects modest gross margin expansion by year-end.
July 24, 2024 | 6:23 pm
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NXP Semiconductors was mentioned as a diversified peer to Texas Instruments, with similar positive commentary on broad-based end-market demand in China. This indicates a potential positive outlook for NXPI as well.
The mention of NXP Semiconductors in the context of positive market demand in China suggests a potential positive impact on NXPI's stock price. However, the relevance is lower as the primary focus is on Texas Instruments.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 30
POSITIVE IMPACT
JP Morgan analyst Harlan Sur reiterated an Overweight rating on Texas Instruments with a price target of $230, up from $195. The company showed solid June quarter results, indicating a cyclical recovery. Key markets like Auto and Industrial are recovering, and China has rebounded strongly. Texas Instruments guided a 7% Q/Q sales increase for the September quarter, aligning with seasonal trends.
The analyst's positive rating and increased price target, along with solid quarterly results and a positive sales outlook, suggest a likely short-term price increase for TXN. The recovery in key markets and strong performance in China further support this outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100