Teradyne price target lowered to $81 from $112 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Teradyne (TER) to $81 from $112 and keeps an Underweight rating on the shares. Teradyne held their investor day on March 11 and the firm had a chance to host Advantest CEO Doug Lefever and Co-CCRO Sanjeev Mohan for a breakfast on March 13, notes the analyst, who contrasts comments from Teradyne’s event with the firm’s meeting with Advantest. Following both, the firm has revised down estimates for Teradyne to reflect a slower recovery path for key end-markets including auto, industrial and mobile, the analyst tells investors.