Teradyne (TER) PT Raised to $140 at Baird

Baird analyst Richard Eastman raised the price target on Teradyne (NASDAQ: TER) to $140.00 (from $120.00) while maintaining a Outperform rating.

The analyst comments "Remain Outperform. 2Q beat, but 3Q guided just below Cons.. Negative stock reaction (TER -13%, SP500 -0.5%) followed as expectations ran ahead; strong 2Q stock run-up also may influenced profit taking. Semi Test gained momentum in 2Q, muted by incremental softness in other test areas which kept 2H24 on plan, in totality. Still, AI-related drivers are ramping faster. TER "bullish on 2025" anticipating Mobility recovery, Memory demand sustaining/broadening and VIP's scaling. Maturation of growth strategies should also boost Robotics growth next year. Seeing recovery ahead, our 2025E could prove conservative."

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