Texas Instruments (TXN) PT Raised to $102 at RBC Capital Folowing Strong 3Q

RBC Capital raised its price target on Texas Instruments (NASDAQ: TXN) to $102.00 (from $100.00) while maintaining a Outperform rating following the company's 3Q earnings release. TXN reported results that were above expectations with revenues/EPS of $4.12B/ $1.26 vs. Street at $3.91B/ $1.12. Revenues were above expectations, driven primarily by broad-based strength within Automotive and Industrial markets.

For Dec-17E, TXN expects revenue/EPS of $3.57-3.87B ($3.72B at the midpoint)/ $$1.01-1.15 ($1.08 at midpoint) vs. Street at $3.67B/ $1.01.

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