Citadel Expects No Surprised From Texas Instruments in 2Q11 Mid-Quarter Update Today

According to a recent report from Citadel, Texas Instruments (NYSE: TXN) is expected to provide a 2Q11 mid-quarter update after the market closes today. Citadel expects no surprises from TXN and remain concerned about the health of the business moving forward. Citadel reiterates Reduce rating and $29.00 price target on TXN.

In the report, Citadel said, "Also worrisome, in our view, is the impact from a potential unwind of buffer stock that was likely built by TI customers in the wake of the Japan earthquake – especially given the impact on product supply from the company's facilities in Japan."

Texas Instruments closed yesterday at $33.27.