Texas Instruments price target lowered to $200 from $240 at Susquehanna

Susquehanna analyst Christopher Rolland lowered the firm’s price target on Texas Instruments (TXN) to $200 from $240 and keeps a Positive rating on the shares. The firm said they reported better Q3 results but worse Q4 guidance while management noted booking patterns progressed as anticipated throughout the quarter, in contrast to the moderation at the end of 2Q, an incremental positive. Susquehanna said the the long-term story remains intact as the company leans into the structural and cyclical growth story in semis.