Core Viewpoint - Teradyne, Inc. is initiated with a Strong Buy rating and a price target of $113, based on a projected FY25 EPS (Diluted) of $3.36, reflecting a 1.0% year-over-year increase [1] Company Overview - Teradyne designs and manufactures automatic test equipment across various sectors including semiconductor, system, industrial automation, and wireless [1] Research Methodology - Moretus Research employs a structured framework to identify companies with durable business models and mispriced cash flow potential, focusing on U.S. public markets [1] - The research emphasizes rigorous fundamental analysis combined with a judgment-driven process, avoiding noise and overly complex forecasting [1] Valuation Approach - Valuation is based on sector-relevant multiples tailored to each company's business model and capital structure, prioritizing comparability, simplicity, and relevance [1] Investment Focus - Research coverage targets underappreciated companies undergoing structural changes or temporary dislocations, where disciplined analysis can lead to asymmetric returns [1]
Teradyne: AI-Driven Test Dominance; Initiate Strong Buy