Texas Instruments price target lowered to $170 from $185 at Stifel

Stifel lowered the firm’s price target on Texas Instruments (TXN) to $170 from $185 and keeps a Hold rating on the shares. Q3 revenue beat estimates and management noted the cyclical recovery continues to be underway, albeit at a slower pace than in prior cycles, says the analyst. The company’s Q4 revenue midpoint of $4.4B comes in 2.9% lower than the firm’s prior $4.53B estimate and below the Street at $4.51B, the analyst noted.