Teradyne price target raised to $112 from $98 at Citi

Citi analyst Atif Malik raised the firm’s price target on Teradyne to $112 from $98 and keeps a Buy rating on the shares. The analyst believes the equipment group is in “cyclical recovery phase 2” and will continue to grind higher on a strong rebound in wafer fab equipment and test equipment spend in 2025. The firm spitted its valuation basis to 2025 earnings power from 2024.