Teledyne (TDY) PT Raised to $530 at Jefferies as 2021 Results Continue to Strengthen

August 2, 2021 8:54 AM EDT
Get Alerts TDY Hot Sheet
Price: $433.49 +0.09%

Rating Summary:
    7 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
Trade Now! 
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Jefferies analyst Sheila Kahyaoglu raised the price target on Teledyne (NYSE: TDY) to $530.00 (from $520.00) while maintaining a Buy rating after a solid Q2 beat was driven by operations with better drop through off a better than expected topline (up 10% organic). On a GAAP basis, NT performance is hindered by deal costs, which masks the underlying cash performance.

The analyst stated "2021 is set up to be a year of outperformance leveraging MSD/HSD revenue growth to drive productivity. The story is enhanced by the acquisition of FLIR. We raise our 2021 adjusted EPS to $15.50 up from $12.25 reflecting better core performance coupled with the FLIR contribution and exclusion of intangibles. The next leg up comes from outperformance on the acquisition, with TDY typically conservative in initial planning. We forecast $18.50 of cash EPS in 2022."

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Jefferies & Co, Definitive Agreement