Option Millionaires

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Texas Instruments initiated with an Outperform at Evercore ISI
Evercore ISI analyst Mark Lipacis initiated coverage of Texas Instruments with an Outperform rating and $213 price target. The firm calls TI a "Tectonic Shift play" as a key supplier into the emerging IoT market, which it expects to grow to tens of billions of units. The firm, which expects the company's operating margins to expand 1,000 basis points over the next 10 years, believes the stock's price-to-earnings ratio with expand as TI exits its capex cycle in 2027 and its free cash flow per share rises.