UPDATE: Citi Downgrades Teradyne (TER) to Neutral

Citi downgraded Teradyne (NYSE: TER) from Buy to Neutral with a $20 price target (from $23.50).

Analyst Atif Malik said, "We downgrade TER to Neutral from Buy and lower our TP to $20 from $23.5 as we do not view test equipment stocks to be major beneficiaries of rising costs from Moore’s law scaling."

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 $19.61 yesterday.

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