Truist lowered the firm’s price target on Texas Instruments (TXN) to $190 from $198 and keeps a Hold rating on the shares. The company beat Q3 on margins but guided Q4 revenue below consensus as the hotly anticipated recovery in broad-based semis is “delayed yet again”, the analyst tells investors in a research note. The firm adds that it would encourage investors to focus on the whole business rather than getting too excited by better performance in China EVs, cutting its FY25 EPS view by 45c to $5.95.
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