Stifel Upgrades Teradyne to Buy, Shares Gain 5%

Core Viewpoint - Stifel upgraded Teradyne from Hold to Buy and raised its price target to $225 from $162, resulting in a more than 5% increase in shares on Tuesday [1] Group 1: Market Positioning - Teradyne's positioning in AI networking, AI training/inference, and memory markets is considered underappreciated, with potential upside from core consumer and smartphone end-markets [2] - The firm anticipates that rising unit growth and increasing chip-test complexity across AI accelerators, networking silicon, and memory suppliers could enable Teradyne to reach the lower end of its long-term financial model as early as 2027 [2] Group 2: Growth Potential - A potential GPU test win at Nvidia is progressing, which would further support the positive outlook for Teradyne [3] - The new price target of $225 is based on 32× CY27 EPS and includes a modest premium for the possibility of securing an additional major GPU customer [3]