Teledyne Technologies Price Target Lifted at Berenberg Bank
<p>Analysts at Berenberg Bank increased their price target on <a href='https://financialmodelingprep.com/financial-summary/TDY'>Teledyne Technologies Incorporated (NYSE:TDY) </a>to $570 from $565 as they believe the stock pullback on broader supply chain concerns offers an attractive setup into Q3.</p>
<p>According to the brokerage the recent weak corporate commentary across industrials coupled with FLIR acquisition integration risk has caused the company’s multiple to de-rate since May. However, recent order trends suggest the company’s guidance is quite conservative, in the brokerage view, and the company can even exceed expectations. </p>
<p>The company’s execution track record and unique position as both a supplier and customer in the semis industry also provide the analysts with confidence in its ability to navigate supply challenges. </p>
<p>Analysts at Berenberg Bank believe the market has yet to fully appreciate the TDY/FLIR combination, and they expect the stock to re-rate as synergies materialize and the company de-levers.</p>

NYSE:TDY