Stifel raised the firm’s price target on Teledyne (TDY) to $645 from $626 and keeps a Buy rating on the shares after the company reported about in-line Q3 revenues and earnings that “failed to impress.” While results this quarter “didn’t offer many new sparks, we do not see it as thesis changing” given that the defense business is “humming” and backlog continues to build, the analyst tells investors.
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