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Fly News Breaks for August 25, 2016
TXN, MXIM
Aug 25, 2016 | 08:19 EDT
RBC Capital analyst Amit Daryanani says that Maxim Integrated's (MXIM) valuation based on free cash flow yield is probably too high to interest Texas Instruments (TXN). Moreover, Maxim's offshore cash would be taxed following a deal, while Maxim's power business is "skewed to consumer," making the company "less attractive" to Texas Instruments, according to Daryanani. The analyst keeps an $80 price target and Outperform rating on Texas Instruments.
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