Needham analyst James Ricchiuti raised his price target on Teledyne to $328 and kept his Buy rating after its better than expected Q2 results driven by "much stronger" margins. The analyst cites the "ongoing strength" in the company's Life Sciences, Test & Measurement and Defense businesses, helping offset the weakness in its industrial machines segment. Ricchiuti further points to the bookings strength of Teledyne's Marine Instrumentation, highlighting the recovery in the offshore energy business expected later this year.
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