In happier analyst news, Seaport Global Securities analyst Jay Goldberg upgraded Texas Instruments (Nasdaq: TXN | TXN Price Prediction) today. Removing his sell rating on the stock, Goldberg upgraded to neutral. “We thought the analog inventory cycle was not going to improve and the macro economy was slowing,” aid the analyst. “We were wrong. While we see no strong catalysts, it now appears conditions will not deteriorate and inventories may start to improve.”
Texas Instruments is trading 0.8% higher in the market’s opening minutes. The Voo is now up 0.2%.
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Stocks lost momentum near the end of trading with the Dow Jones closing down slightly while the Nasdaq posted the best gains among major indexes.
Energy stocks performed the worst (-1.08%) while Communications Services gained 1.28% thanks to Alphabet‘s (Nasdaq: GOOG) strong gains.
Circling back to Verizon and its morning earnings beat, Goldman Sachs analyst James Schneider has reviewed the news and says Verizon stock should hold onto hold its gains after raising guidance for both EBITDA and free cash flow. Although the decline in wireless subscribers was a surprise, Schneider thinks they were actually “better than feared. The analyst is keeping his buy rating on the stock, and Verizon stock is up 5.3%.
It’s probably worth mentioning that Texas Instruments isn’t the only stock Seaport upgraded today. Analyst Jay Goldberg similarly upgraded Analog Devices (Nasdaq: ADI), also to neutral, and for exactly the same reason it upgraded TI.
Analog Devices stock is up 1.3%, TI is now up 0.7%, and the Voo is up 0.6%.
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