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Fly News Breaks for October 23, 2019
TXN
Oct 23, 2019 | 09:12 EDT
Morgan Stanley analyst Joseph Moore said he had expected weakness from Texas Instruments, but he was surprised at the magnitude and TI's comments citing weakness in nearly all end markets, in all geographies, and at "nearly every major customer." The analyst thinks the duration of this downcycle will "clearly be longer" than usual and doesn't expect TI to see year-over-year growth until the third quarter of 2020, at the earliest. Moore keeps an Equal Weight rating on TI shares and trimmed his price target for the stock to $109 from $110.
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