Stifel Raises Texas Instruments Target to $250

Stifel upgraded Texas Instruments (TXN) to Buy, lifting price target to $250 from $215, implying ~20% upside.
Analysts expect capex to fall from $2.39bn in 2026 to $2.20bn in 2027, lifting FCF per share to $9.60 and $10.61 in 2028.
CHIPS Act benefits projected at $1.55bn in 2026, and the pending Silicon Laboratories acquisition could add over 10% EPS accretion by 2030.
300mm wafer transition aims for >80% of revenue by 2030, potentially adding up to 800bps gross margin.