Teradyne rises after JPM upgrades to 'overweight', raises PT

Teradyne

16/12/2024 14:22

** Shares of semiconductor-testing equipment maker Teradyne
 TER.O  rise 3.6% to $127.57 in premarket trading
    ** J.P.Morgan upgrades stock to "overweight" from "neutral"
and raises PT to $158 from $145
    ** Growth in custom AI chips, memory and mobility TAM (total
addressable market) will in aggregate put the company in a
better position to achieve 2026 targets - JPM
    ** Brokerage expects growth in 2025 and 2026, driven
primarily by an increase in mobility TAM further led by recovery
in smartphone units
    ** Eleven of 19 brokerages rate the stock "buy", 6 "hold"
and 2 "sell"; median PT is $130 - data compiled by LSEG
    ** Up to last close, stock up 13.6% YTD

 (Reporting by Kritika Lamba in Bengaluru)
 ((Kritika.Lamba@thomsonreuters.com))