- Update with more details from the upgrade:
- BofAML cites TXN's "superior" history of FCF returns, which is likely to support the stock even through the trade tensions.
- The recent dividend increase "helps reinforce our confidence in the company’s ability to generate and return FCF to shareholders even in a tough macro environment."
- Original: Texas Instruments (NASDAQ:TXN) is upgraded from Neutral to Buy at Bank of America Merrill Lynch.
- The firm sets TXN's target at $150, a 17% upside.
- Texas Instruments is expected to report earnings on October 21. Consensus estimates have $3.82B in revenue and $1.44 EPS.
- TXN shares are up 0.7% pre-market to $129. The company has a Very Bullish Quant rating.