Teledyne price target lowered to $458 from $472 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Teledyne to $458 from $472 and keeps an Equal Weight rating on the shares. The implied 2025 P/E multiple reflects a 20% discount to 2019 levels, which the firm views as warranted following the company’s FLIR deal, shorter-cycle softening and lingering supply chain issues, the analyst tells investors in a research note.