Tuesday, January 23, 2007

TXN - Texas Instruments

So it does look as if last night's rise for was real, though there can even be big differences between morning pre market and what actually happen when the real trading begins at 9:30.

But TI (TXN) bulls can take comfort in knowing that Merrill Lynch upgrade TI to "buy" from "neutra" with a price target for $35. JP Morgan reiterated an overweight saying the TI call last night had "several signs of a bottom". STFL maintained a "hold", while Jeffries maintained a "buy" with a $36 target. AG Edwards says TI's weak outlook for the March quarter is not a suprise and maintains a "buy".

Shares of TI are up 3% pre market, but again - especially with stock futures lower overall, we'll have to see if those gains stick and make any difference for overall tech. Perhaps a case of too little, too late.

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