Ronald Epstein, an analyst from Bank of America Securities, maintained the Buy rating on Teledyne Technologies. The associated price target remains the same with $640.00.
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Ronald Epstein’s rating is based on Teledyne Technologies’ strong financial performance and positive future outlook. Despite the company’s third-quarter results falling slightly short of Bank of America’s expectations, Teledyne exceeded the consensus estimates from Bloomberg. The company reported a notable increase in revenue and adjusted earnings per share, demonstrating robust growth compared to the previous year.
Furthermore, Teledyne has raised its full-year adjusted EPS forecast, indicating confidence in its ongoing operations and market position. The record level of new orders, particularly in the Teledyne FLIR segment, and the recovery in commercial short-cycle businesses, alongside favorable conditions in defense markets, contribute to a positive outlook. These factors support the Buy rating, as they suggest potential for continued growth and value appreciation in the stock.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDY in relation to earlier this year.