Texas Instruments initiated with "outperform"

18.08.09 - Wedbush Morgan Securities

NEW YORK, August 18 (newratings.com) - Analysts at Wedbush Morgan initiate coverage of Texas Instruments (TXN) with an "outperform" rating. The 12-month target price is set to $29.

In a research note published this morning, the analysts mention that the company is poised for robust growth due to strong gross margin tailwinds, consistent share gains in the analog segment and expected benefits from a cyclical recovery. Concerns regarding the decline in Texas Instruments? baseband business are overblown, the analysts add.