TD Cowen lowered the firm’s price target on Teledyne to $450 from $475 and keeps a Buy rating on the shares. The firm said they posted an unexpected miss leading some to believe the story is broken while others see a de-risked guide and cheap valuation for a company with multiple businesses at or near trough and a proven track record of capital deployment. Cowen’s sense post discussions, is that the updated guide is more than simply a mark to market.
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Read More on TDY:
- Teledyne sees Q2 adjusted EPS $4.40-$4.50, consensus $5.00
- Teledyne cuts FY24 adjusted EPS view to $19.25-$19.45 from $20.35-$20.68
- Teledyne reports Q1 adjusted EPS $4.55, consensus $4.63
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- Teledyne (TDY) Q1 Earnings Cheat Sheet
