UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Teledyne Technologies

In a report published Friday, Jefferies & Company reiterated its Hold rating on Teledyne Technologies

, and raised its price target from $65.00 to $70.00. Jefferies noted, “TDY reported Q3 EPS of $1.14, which was ahead of our estimate of $0.94, and up from $0.91 a year ago. While some businesses remain challenged, Teledyne was able to keep organic sales relatively flat. The company continues to benefit from new product innovations and market share gains. We are raising our 2012 estimate to $4.25 from $4.00.” Teledyne Technologies closed on Thursday at $65.76.