Bank of America raised its price target for Texas Instruments to $370 from $320. The firm maintained a Buy rating on the stock. Analysts cited emerging cyclical tailwinds in the core industrial and automotive markets.
BofA identified transformative growth in AI data centers as a primary catalyst. The bank believes the market underappreciates potential gains from the transition to 800-volt data center architecture.
Texas Instruments' data center business is projected to reach $4.5 billion by 2028. This expansion would account for approximately 18% of the company's total annual sales.