BofA analyst Ronald Epstein raised the firm’s price target on Teledyne to $490 from $430 and keeps a Buy rating on the shares. Shares have traded down about 2.6% since the company reported earnings on January 24, notes the firm, which attributes the weakness to concerns about Digital Imaging’s margins and the uncertainty of recovery in industrial automation end-markets. While the firm views Digital Imaging concerns as “valid,” it also calls them “likely overdone.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TDY:
- Teledyne sees Q1 adjusted EPS $4.55-$4.65, consensus $4.84
- Teledyne sees FY24 adjusted EPS $20.35-$20.68, consensus $20.68
- Teledyne reports Q4 adjusted EPS $5.44, consensus $5.04
- TDY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Teledyne e2v announces next generation high-performance CMOS image sensors for extreme low light conditions
