UPDATE: DA Davidson Maintains Buy, $26 PT on Teradyne; Company Drivers Overshadow Global Uncertainty
D.A. Davidson reiterated its Buy rating and $26 price target on Teradyne (NYSE: TER) as the company's stock drop goes counter to fundamentals.
In the report, D.A. Davidson stated, "Since reporting strong Q1 results and providing a bullish Q2 outlook (24%-34% sequential revenue growth), shares of TER have retreated ~16% (SOX Index down ~6%). We believe the selloff, largely a function of global macro uncertainty, creates an attractive buying opportunity as multiple growth drivers (both near term and long term) remain intact."
Shares of Teradyne were trading at $14.32 at the time of posting, down 0.21% from Tuesday's market close.
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