Truist analyst William Stein lowered the firm’s price target on Texas Instruments (TXN) to $195 from $199 and keeps a Hold rating on the shares. The company’s Q4 earnings beat estimates, but its mixed Q1 guidance “makes it clear” that a bottom in the auto and industrial end markets has not been reached yet, the analyst tells investors in a research note. Texas Instruments’ profitability is under incremental pressure from a combination of lower utilization, steady operating expenditure, and lower interest income, the firm added.
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