UPDATE: Susquehanna Upgrades Teradyne (TER) to Positive

July 29, 2021 6:00 AM EDT
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Price: $119.33 -0.34%

Rating Summary:
    12 Buy, 10 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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(Updated - July 29, 2021 6:01 AM EDT)

Susquehanna analyst Mehdi Hosseini upgraded Teradyne (NASDAQ: TER) from Neutral to Positive with a price target of $165.00 (from $148.00).

The analyst comments "Following 2Q21 earnings report, we argue expectations are reset and the headwinds have now been dialed in the share price. Combined with our underlying assumptions of stronger fundamentals, market share gains, and some operating leverage leads us to a new N-T earnings power of $7.50. As such, and using 22x PE multiple leads us to PT of $165, and thus driving our upgrade to Positive. Yes, TER has underperformed the peer group YTD. But, prospects of a better '22 should drive material upside to the consensus, and thus making TER one of the "catch up" names in our coverage universe."

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 $122.08 yesterday.

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