Rosenblatt reiterates a Buy rating and $245 price target on shares of Texas Instruments (TXN) after the company delivered a “strong” Q2 beat and “modest” Q3 raise. Rosenblatt attributes the after-hours stock decline to elevated expectations heading into the quarter and management’s shift in commentary from bullish to balanced, and tells investors in a research note that the accelerated demand at the start of the quarter was driven by both pull-ins and inventory restocking, with demand from pull-ins waning through the quarter. The firm is a buyer of the stock and believes Texas Instruments is well-positioned to navigate any scenario tariffs or geopolitics brings.
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