Teradyne price target raised to $85 from $80 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Teradyne (TER) to $85 from $80 but keeps a Sell rating on the shares after its Q2 results and guidance. The firm expects the stock to trade higher given the management’s optimistic commentary surrounding Teradyne’s AI-centric opportunities in custom compute and memory despite reporting a tepid quarter with guidance that came in below the Street, the analyst tells investors in a research note. Investor expectations were low heading into the quarter, particularly in light of the stock’s significant underperformance year-to-date, but the company has made solid progress on several fronts, with solid design win momentum in custom compute silicon and memory test, the firm added.