BofA Securities Upgrades Teledyne (TDY) to Buy

BofA Securities analyst Ronald Epstein upgraded Teledyne (NYSE: TDY) from Neutral to Buy with a price target of $550.00 (from $450.00).

The analyst comments "Our prior thesis on TDY was driven by the persistent headwinds on the company’s industrial short-cycle businesses. Now, we view TDY as reaching the low point in the cycle with potential upside ahead on the recovery, specifically in the Digital Imaging (DI) segment. We see the cost takeout initiatives implemented in DI as providing significant margin opportunity while industrial automation markets recover. While we don’t anticipate a sudden inflection – we’re bullish on the return to growth, return to M&A, all paired with strong long-cycle markets creating a buying opportunity for investors. We upgrade Teledyne to a Buy (from Neutral) and increase our PO to $550 (from $450) using a 1.2x (prior 1.0x) relative multiple to the S&P500 on 2026E (prior 2025E). See p. 3 for explanation of our EPS changes."

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 $477.66 yesterday.

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