UPDATE: Drexel Hamilton Upgrades Teledyne Technologies to Buy, Raises PT

In a report published earlier today, Drexel Hamilton, LLC upgraded its rating for Teledyne Technologies Incorporated

from Hold to Buy, and raised its price target from $60.00 to $65.00. Drexel Hamilton went on to say “Hearkening to its 1960 founding to exploit emerging digital technologies, Teledyne is steadily re-orienting from military to commercial electronics...2012 revenues and earnings are held beneath consensus at $2.05bn and $4.04 per share from near-term cyclical softness and defense reductions. Largely commercial aerospace, instrumentation and energy acquisitions the past year have re-oriented TDY from prior military program reliance. BlueView acoustic imaging sensors and LeCroy test and measurement bolster earlier business adds in electronic interconnect and imaging.” Teledyne Technologies Incorporated closed yesterday at $58.51.