Citi has assumed coverage of Teradyne Inc. TER, keeping a Buy rating and $24 price target in place on the stock.
According to Citi, “We assume coverage of TER from Timothy Arcuri with a Buy (1H) rating, consistent with CIRA's prior rating. We base our Buy thesis on: 1) solid semi test fundamentals; 2) pent up demand in test equipment; 3) strong EPS/FCF; and 4) 20% rev upside in 2H not priced in. Given last week's pull back, we see a great entry point at current level, and expect ~50% upside based on our $24 price target.”
TER closed yesterday at $15.83.
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Posted In: Analyst ColorAnalyst RatingsCitiInformation TechnologySemiconductor EquipmentTeradyne Inc.
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