Teledyne Technologies, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joseph C Giordano from TD Cowen maintained a Buy rating on the stock and has a $600.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Joseph C Giordano has given his Buy rating due to a combination of factors that suggest a promising future for Teledyne Technologies. Despite some initial disappointment in market positioning, the company’s recent performance was solid, and there is an expectation that upcoming consensus estimates will be surpassed. The company has achieved new highs in trailing twelve-month orders, indicating strong visibility into 2026 with growth in areas such as drones and space, alongside positive developments in test and measurement and machine vision sectors.
Furthermore, while operational changes in the model were minimal, the removal of a significant buyback plan for 2026 reflects a strategic decision, as there is little interest at current price levels. However, Teledyne Technologies is not expected to hold onto its capital, suggesting potential for future strategic investments. The guidance for the fourth quarter is conservatively set, but there is an indication of potential upward adjustments. The 2026 earnings estimate is positioned at the higher end of expectations, supported by a historical trend of exceeding initial guidance.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $615.00 price target.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDY in relation to earlier this year.