UPDATE: Rosenblatt Starts Teradyne (TER) at Buy
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(Updated - January 25, 2021 4:07 PM EST)
Rosenblatt analyst Scott Graham initiates coverage on Teradyne (NASDAQ: TER) with a Buy rating and a price target of $165.00.
The analyst comments "We are initiating coverage of TER with a Buy rating. TER’s primary market, SOC Mobility Test, is in a cyclical upswing from rising processing complexities and speed requirements in smartphones. We expect it to continue to gain share in this market. Most of its other Test verticals -- other SOC, Memory and Storage -- are also growing or poised to turn up and we see market share opportunities in each from design wins. The Industrial Automation segment should benefit from cyclical end-market upturns and niche growth initiatives. We favor TER’s cost acumen and expect margins to continue to expand and for capital deployment to accelerate this year. Our estimates are above the Street and our price target is $165."
Shares of Teradyne closed at $137.95 yesterday.
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