Texas Instruments price target raised to $167 from $154 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the firm’s price target on Texas Instruments (TXN) to $167 from $154 and keeps an Underweight rating on the shares. TI reported a better than expected September-end quarter, led by strength in automotive, though the firm questions how long it will take for end demand weakness to catch up to broad market analog suppliers. “Industrial remains surprisingly weak, while automotive remains surprisingly durable,” adds the analyst, who expects “both to reverse from here.”