Texas Instruments price target raised to $167 from $142 at Citi

Citi raised the firm’s price target on Texas Instruments to $167 from $142 and keeps a Neutral rating on the shares. The company reported in line Q4 results but guided Q1 well below consensus due to more weakness in the industrial and auto end markets, the analyst tells investors in a research note. Despite a large cut to estimates, the firm believes the guidance gives some clarity on when Texas Instruments’ earnings can bottom, which “could cause us to become optimistic on the stock.”