Zacks Investment Research downgraded shares of Teradyne Inc (TER) from NEUTRAL to UNDERPERFORM on December 20, 2013, with a target price of $15.00.
Teradyne is a leading provider of automated test equipment. The company's third quarter earnings beat the Zacks Consensus Estimate on lower-than-expected operating expenses but forward guidance was disappointing. Therefore, while the LitePoint acquisition, product lineup, lean cost structure and strong balance sheet remain positives, end market uncertainties are contributing to weak orders, thereby impacting earnings. We are therefore taking down our estimates and downgrading TER shares to Underperform.
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