Tuesday, April 24, 2007

Morning Market Comment

Stock futures have been on the rise this morning following last night's rosy outlook from Texas Instruments (TXN) though not all analysts are convinced. Goldman this morning said that while fundamentals are better than expected, it maintained a Neutral on the stock and told clients not to chase TI. But Jeffries raised its target to $41 from $36 and Piper upgraded to Outperform.

As noted last night, Target (TGT) issued a weak same store sales forecast sparking guessing and concern about consumer demand. Incidentally, the first read on 1st quarter GDP is this Friday.

Just a few quick news and notes:

A GM demotion: Toyota Tops GM in 1Q Global Auto Sales, subprime commotion at GM: GM's subprime woes.

For the moment there's some Turn Around Tuesday cheer, we'll see if the eco data changes that later this hour.

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