Goldman Sachs analyst Noah Poponak keeps a Buy rating and $488 price target on Teledyne after meeting with its Vice Chairman Jason VanWees. The discussion around short cycle industrial was “somewhat more optimistic”, and the firm’s takeaway was that the company’s long cycle businesses “remain strong”, the analyst tells investors in a research note, adding that Teledyne’s free cash and the balance sheet are “robust”. Goldman Sachs added that it continues to see the stock as a “high quality” name and its free cash compounding model remaining intact.
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