Teradyne price target raised to $400 from $330 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Teradyne (TER) to $400 from $330 and keeps an Overweight rating on the shares ahead of quarterly results. While fundamentally the overarching theme remains AI “hot” vs everything else “not,” the larger question is when will investors move to “a RISK-ON position” following recent de-grossing and lowered net positions, the firm says. With a pause in the Iran conflict and following the selloff of 15% in the SOX through the end of the March quarter, Cantor’s sense the time is “NOW or SOON.” The firm believes first order beneficiaries of the risk-on environment will be Memory and SPE, followed closely by Compute, where the demand backdrop is as robust as ever and valuations today are “frankly disconnected” vs reality.