Texas Instruments price target raised to $280 from $227 at JPMorgan

JPMorgan analyst Harlan Sur raised the firm’s price target on Texas Instruments (TXN) to $280 from $227 and keeps an Overweight rating on the shares. The company reported strong results, driven by continued strength in industrial recovery trends and data center momentum, the analyst tells investors in a research note. JPMorgan says Texas Instruments’ gross margins were better than expected and that it expects improvement through the year to be driven by better factory utilization.