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Evercore initiates coverage of Texas Instruments (TXN -5.4%) at Overweight with a $36 price...

Evercore initiates coverage of Texas Instruments (TXN -5.4%) at Overweight with a $36 price target, with potentially disappointing Q3 numbers already priced into the stock. The pending acquisition of National Semiconductor (NSM) should prove “highly accretive" to TI’s earnings. Evercore also initiates ACE, ALL, CB, WRB and ACGL at Overweight.
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