Baird analyst Tristan Gerra lowered the firm’s price target on Texas Instruments (TXN) to $175 from $200 and keeps a Neutral rating on the shares. The firm noted sequential revenue growth in all of its end-markets except industrial is touted by company management and that of peers as a cyclical recovery. Baird contends these sequential comps highlight shipments catching up to real end-demand levels, after several quarters of significant undershipping.
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