Teradyne price target raised to $130 from $100 at TD Cowen

TD Cowen raised the firm’s price target on Teradyne (TER) to $130 from $100 and keeps a Buy rating on the shares after the company delivered results that were “better than feared” given investors’ expectations for numbers to be cut. Near-term strength in testing for AI compute and memory, particularly new HBM4 designs, should drive sequential growth, while additional HBM4 test wins and potential expansion into Nvidia (NVDA) GPU testing could “help re-rate the stock,” the analyst tells investors.