Semiconductor maker Texas Instruments Incorporated ( TXN ) on Tuesday caught a big upgrade from analysts at JMP Securities.
The firm said it boosted its rating on TXN from "Market Perform" to "Market Outperform" with a $36 price target. That target suggests a 19% upside to the stock's Monday closing price of $30.23.
JMP noted it sees favorable cycle indicators emerging for the company, and believes T.I. has the ability to drive upside margin leverage accordingly.
Texas Instruments shares posted modest gains in premarket trading Tuesday.
The Bottom Line
Shares of Texas Instruments ( TXN ) have a 2.25% dividend yield, based on last night's closing stock price of $30.23. The stock has technical support in the $26-$28 price area. If the shares can firm up, we see overhead resistance around the $32-$34 price levels.
Texas Instruments Incorporated ( TXN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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