Texas Instruments Upgraded by Citi, Analysts Discuss Smartphone Glass Stocks
- Citi upgraded Texas Instruments and recommended buying smartphone glass stock.
- Analysts discussed the two stocks in their calls on Wednesday.
- Investors may consider following the upgrades and buying opportunities in semiconductor and smartphone glass sectors.
Citi has upgraded its rating on Texas Instruments from neutral to buy, while also adjusting its price target down by $5 to $275. The bank expressed optimism about the company's market presence, particularly in light of recent operational challenges. Analyst Essex noted the importance of assessing the impact of a recent outage on the company's market efficiency but remains confident in Texas Instruments' sales and marketing capabilities. In a separate analysis, Bank of America reaffirmed its buy rating on MongoDB, labeling it a "secular winner" in the expansive data management sector. Ahead of MongoDB's second-quarter earnings report scheduled for August 29, the firm set a price target of $300, indicating an 18.3% upside potential from the previous closing price. However, concerns regarding the company's divestiture activities have been highlighted, as shares have seen a decline of 9.5% in 2024. Additionally, the bank upgraded another chipmaker's shares to buy following a management call that revealed a significant reduction in projected capital expenditures for 2026. The new capex range is set between $2 billion and $5 billion, down from $5 billion. Citi raised its price target for this chipmaker to $235, suggesting a 16% upside potential, as the company has historically maintained a premium valuation compared to its competitors. Overall, analysts are navigating a complex market landscape, with adjustments in ratings and price targets reflecting broader trends and company-specific developments.