Teradyne (NYSE: TER) had its price objective raised by Credit Suisse from $23.00 to $25.00 in a research report released on Monday morning, AnalystRatingsNetwork reports. Credit Suisse currently has an outperform rating on the stock.
“We think the street views TER as an ex-growth cyclical stock, versus our belief that TER is returning to growth and is more likely to grow its earnings from $1.68 in CY12 to $2.50 by 2016 driven by the IoT cycle and wireless/HDD share gains. We are increasing our CY13 Rev/EPS estimates from $1.56bb/$1.18 to $1.66bb/$1.42. Our new TP of $25 (increased from $23) represents 12x of CY14 EPS adjusted for net cash.,” the firm’s analyst wrote.
Shares of Teradyne (NYSE: TER) traded down 1.29% during mid-day trading on Monday, hitting $17.57. Teradyne has a one year low of $12.95 and a one year high of $18.57. The stock’s 50-day moving average is currently $16.50. The company has a market cap of $3.350 billion and a P/E ratio of 21.79.
Other equities research analysts have also recently issued reports about the stock. Analysts at Piper Jaffray reiterated an overweight rating on shares of Teradyne in a research note to investors on Wednesday, May 29th. Separately, analysts at Deutsche Bank reiterated a buy rating on shares of Teradyne in a research note to investors on Friday, April 26th. They now have a $24.00 price target on the stock. Finally, analysts at UBS AG upgraded shares of Teradyne from a neutral rating to a buy rating in a research note to investors on Friday, April 26th. They now have a $25.00 price target on the stock, up previously from $17.00.
Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $20.60.
Teradyne, Inc. (NYSE: TER) is a global supplier of automatic test equipment.
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