Jan. 28 at 3:05 PM
Bank of America upgraded Texas Instruments and Microchip Technology, citing early signs of an industrial recovery alongside rising demand from data centers, aerospace, and automotive markets. Texas Instruments rose about 5% premarket after BofA lifted the stock to Neutral from Underperform and raised its price target to
$235 from
$185, following better-than-expected guidance that pointed to improving order trends and stronger free cash flow.
BofA said TXN’s Q1 revenue outlook of roughly
$4.5 billion exceeded consensus and defied typical seasonal weakness, supported by a better industrial mix and tighter capital spending. The bank raised its 2026 and 2027 earnings estimates for TXN, highlighting a recovering backlog and growing exposure to data center power and connectivity, now about 9% of sales.
Microchip Technology was upgraded to Buy from Neutral, with BofA raising its price target to
$95 from
$78.
$TXN $MCHP