Teradyne initiated with a Buy at Jefferies on above-consensus estimates

Jefferies analyst Vedvati Shrote initiated coverage of Teradyne with a Buy rating and $115 price target as the analyst launched coverage on a pair of Back-End Test Equipment stocks. The industry has transformed into a high-single- to low-double-digit growth segment after "a decade uninspiring growth," said Shrote, who calls out view Teradyne as a test equipment beneficiary as the market leader with 50% share. Shrote’s 2024 EPS estimate for Teradyne is 6% above consensus, the analyst noted.