Goldman Sachs Upgrades Teradyne (TER) to Buy

Goldman Sachs analyst Toshiya Hari upgraded Teradyne (NASDAQ: TER) from Neutral to Buy with a price target of $161.00 (from $118.00).

The analyst comments: "Following three consecutive years of relative underperformance, we are upgrading TER to Buy from Neutral with our updated 12-month price target of $161 (from $118 prior) implying 22% potential upside. We believe a cyclical recovery in the SoC Test and Robotics franchises augmented by emerging growth drivers in High-Bandwidth Memory (HBM) and Custom Compute Test will drive positive EPS revisions and, in turn, stock price outperformance going forward. Note that our updated 2024/25/26 operating EPS estimates of $3.67/$5.95/$7.81 are 18%/21%/26% above Street consensus, respectively. Our updated bull/bear framework also indicates a favorable risk/reward profile with our most bullish scenario indicating 66% potential upside from current levels vs. our most bearish scenario pointing to 41% potential downside."

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 $131.91 yesterday.

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