Zacks Investment Research upgraded shares of Teradyne Inc (TER) from UNDERPERFORM to NEUTRAL on March 18, 2014, with a target price of $20.00.
Teradyne is a leading provider of automated test equipment. The company's fourth quarter earnings beat the Zacks Consensus Estimate on lower-than-expected operating expenses. The company's improving orders and strong forward guidance were encouraging. The addition of LitePoint remains a big positive going forward given the significant opportunities in the high-growth wireless market. Though the company's relatively low exposure to the memory segment is a matter of concern, the LitePoint acquisition, product lineup, lean cost structure and strong balance sheet remain positives. We are therefore Upgrading TER shares to Neutral.
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