JPMorgan upgrades Teradyne on post-earnings selloff

JPMorgan analyst Samik Chatterjee upgraded Teradyne (TER) to Overweight from Neutral with an unchanged price target of $400. The firm cites valuation for the upgrade following the 20% post-earnings selloff. The “lumpiness” in customer purchasing of test equipment has limited changes to Teradyne’s long-term drivers and secular catalysts, the analyst tells investors in a research note. JPMorgan says the pullback in the shares “offers materially higher upside” on its largely unchanged expectations.