Silicon Labs price target raised to $205 from $160 at RBC Capital

RBC Capital raised the firm’s price target on Silicon Labs (SLAB) to $205 from $160 and keeps a Sector Perform rating on the shares. The firm is adjusting its price target following the confirmation of the company’s acquisition by Texas Instruments (TXN). RBC adds that while it can’t rule out other bidders, TXN’s manufacturing and scale synergies along with substantial take-out premium make it less likely.