Deutsche Bank Starts Teradyne (TER) at Buy; Attractive Product Mix, Margins and Price

Deutsche Bank initiates coverage on Teradyne (NYSE: TER) with a Buy. PT $17.00.

Deutsche analyst says, "We expect the company’s recent expansion into the memory test market and its access to the wireless test market through the acquisition of LitePoint to provide a boost to top line growth. We also believe that the 2009 cost reduction/restructuring effort will yield margin benefits and provide a tailwind to earnings. Additionally, Teradyne is trading at 8.3x FY 2012 earnings, a 47% P/E discount relative to its historical median and at a 22% discount to its peer group average versus historically trading at a 29% premium. We believe the shares are attractively priced."

For an analyst ratings summary and ratings history on Teradyne click here. For more ratings news on Teradyne click here.

Shares of Teradyne closed at $11.68 yesterday.

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