Teledyne price target raised to $640 from $600 at BofA

BofA raised the firm’s price target on Teledyne (TDY) to $640 from $600 and keeps a Buy rating on the shares. While top and bottom line results came in ahead of expectations, management takes a conservative stance for the rest of the year, citing potential outsized performance in Q2 due to pull-forward of orders in response to tariffs, the analyst noted. However, the firm continues to see upside risk in the long-cycle markets, especially Aerospace and Defense, as well as upside opportunity on the eventual short-cycle recovery, the analyst added in a post-earnings note.