Drexel Hamilton Upgrades Teledyne (TDY) to Buy; Raising PT and Estimates on Bounceback Into Military Programs
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Price: $77.36 +1.71%
Rating Summary:
1 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
1 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade TDY Now!
Drexel Hamilton upgraded Teledyne (NYSE: TDY) from Hold to Buy with a price target of $65.00 (from $60.00).
Analyst, Richard Whittington, said, "2012 revenues and earnings are held beneath consensus at $2.05bn and $4.04 per share from near-term cyclical softness and defense reductions...Largely commercial aerospace, instrumentation and energy acquisitions the past year have re-oriented TDY from prior military program reliance...BlueView acoustic imaging sensors and LeCroy test & measurement bolster earlier business adds in electronic interconnect and imaging...These deals should help Teledyne buffer forthcoming defense spending cuts where better than 1/3 of sales and nearly as much in profits derive."
"Dovetailing with global demand trends, these lead to 5-year sales and earnings CAGRs to 5.4% and 6.5% from 4.8% and 5.9% previously...Our new 2014-2016 per share estimates are now $4.59, $4.91 and $5.24, respective $0.14, $0.15 and $0.15 increases over our prior model."
For an analyst ratings summary and ratings history on Teledyne click here. For more ratings news on Teledyne click here.
Shares of Teledyne closed at $58.51 yesterday, with a 52 week range of $43.82-$66.29.
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Analyst, Richard Whittington, said, "2012 revenues and earnings are held beneath consensus at $2.05bn and $4.04 per share from near-term cyclical softness and defense reductions...Largely commercial aerospace, instrumentation and energy acquisitions the past year have re-oriented TDY from prior military program reliance...BlueView acoustic imaging sensors and LeCroy test & measurement bolster earlier business adds in electronic interconnect and imaging...These deals should help Teledyne buffer forthcoming defense spending cuts where better than 1/3 of sales and nearly as much in profits derive."
"Dovetailing with global demand trends, these lead to 5-year sales and earnings CAGRs to 5.4% and 6.5% from 4.8% and 5.9% previously...Our new 2014-2016 per share estimates are now $4.59, $4.91 and $5.24, respective $0.14, $0.15 and $0.15 increases over our prior model."
For an analyst ratings summary and ratings history on Teledyne click here. For more ratings news on Teledyne click here.
Shares of Teledyne closed at $58.51 yesterday, with a 52 week range of $43.82-$66.29.
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