Citi Maintains 'Buy' Rating on Teradyne (TER), Sees Opportunity on Recent Dip in Price
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Citi maintains a 'Buy' rating on Teradyne Inc (NYSE: TER). Price target $17.
Citi analyst says, "While we think Street ests remain too high for FQ3:08 (Sept), the stock’s recent pullback appears to reflect much of this and we see this as a tactical buying opportunity ahead of percolating product/share mojo + a greater degree of installed base obsolescence in wireless apps that look set to combine with a more favorable chip environment to drive a very strong '09 for TER and semi test in general."
Teradyne, Inc. is a global supplier of automatic test equipment. Its automatic test equipment products and services include semiconductor test (Semiconductor Test) and circuit-board test and inspection systems, military/aerospace (Mil/Aero) test instrumentation and systems and automotive diagnostic and test systems (Systems Test Group).
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