Texas Instruments price target lowered to $160 from $200 at Stifel

Stifel lowered the firm’s price target on Texas Instruments (TXN) to $160 from $200 and keeps a Hold rating on the shares. Tariff-impacts, including secondary and tertiary impacts, leave the firm with an “overarching view” entering the Q1 earnings season for the Analog, Connectivity and Processors group to have generally in-line March quarter results, but softer June quarter outlooks. Regardless of where tariffs eventually shake out in magnitude, duration and breadth, the firm believes the likelihood of the overall semiconductor industry tipping over into a cyclical downturn has “increased materially,” the analyst added in a preview note.