Notable Upgrades: Texas Instruments (TXN), CIT Group (CIT), SanDisk (SNDK), Qualcomm (QCOM), Citrix Systems (CTXS)

Analysts at Charter Equity are out with a report this morning upgrading shares of Texas Instruments Inc. (TXN) with a ‘Buy’ from ‘Market Perform’ rating. The upgraded was made in reaction to co.’s better than expected results and above-consensus earnings guidance.

Texas Instruments reported third-quarter EPS of $0.76, compared to the consensus estimate of $0.67. Revenues declined 2.1% from last year to $3.43 billion. Analysts expected revenues of $3.28 billion. The stock is currently up $6.04 to $57.94 on 12.62 million shares.

For Q415, TXN provided EPS guidance of $0.64 – $0.74 vs. consensus of $0.62 per share. The company also issued revenue projection of $3.07 – $3.33 billion, compared to the consensus revenue estimate of $3.12 billion.

On valuation measures, Texas Instruments shares are currently priced at 20.84x this year’s forecasted earnings, compared to the industry’s 10.74x earnings multiple. Ticker has a forward P/E of 20.58 and t-12 price-to-sales ratio of 4.05. EPS for the same period is $2.78.

Over the past year, shares of Dallas, Texas-based company have traded between a low of $43.49 and a high of $59.99 and are now at $57.90.

Shares are up 13.92% year-over-year and 1.06% year-to-date.

Analysts at Macquarie upgraded their rating on the shares of CIT Group Inc. (CIT). In a research note published on Thursday, the firm lifted the name with a ‘Outperform’ from ‘Neutral’ rating.

CIT Group Inc. shares are currently priced at 8.37x this year’s forecasted earnings, compared to the industry’s 12.00x earnings multiple. Ticker has a PEG and forward P/E ratio of -1.49 and 12.41, respectively. Price/Sales for the same period is 2.70 while EPS is $5.46. Currently there are 11 analysts that rate CIT a ‘Buy’, 7 rate it a ‘Hold’. No analyst rates it a ‘Sell’. CIT has a median Wall Street price target of $51 with a high target of $56.

SanDisk Corp. (SNDK) was reiterated a ‘Neutral’ by Mizuho analysts on Thursday. The broker also raised its price target on the stock to $86.50 from $60.

SNDK is down $0.04 at $76.74 on heavy volume. Midway through trading Thursday, 7.19 million shares of SanDisk Corp. have exchanged hands as compared to its average daily volume of 6.00 million shares. The stock has ranged in a price between $76.49 – $76.98 after having opened the day at $76.51.

In a report published Thursday, Rosenblatt analysts initiated coverage on QUALCOMM Inc. (QCOM) with a ‘Buy’ rating and $65 price target.

QCOM recently gained $1.51 to $60.48. In the past 52 weeks, shares of San Diego, Calif.-based company that focuses on designing, developing, and marketing digital communications products have traded between a low of $52.17 and a high of $78.53. Shares are down 19.23% year-over-year and 18.97% year-to-date.

Citrix Systems, Inc. (CTXS) was reiterated as ‘Buy’ with a $90 from $82 price target on Thursday by Needham.

CTXS shares recently gained $7.64 to $79.56. Needham’s target price suggests a potential upside of about 13% from the company’s current stock price.

In the past 52 weeks, shares of Fort Lauderdale, Florida-based firm have traded between a low of $56.47 and a high of $80.50.

Shares are up 12.73% since the beginning of the year.

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