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Fly News Breaks for April 26, 2018
TER
Apr 26, 2018 | 06:14 EDT
As reported earlier, DA Davidson analyst Thomas Diffely downgraded Teradyne to Neutral from Buy and lowered his price target to $40 from $55, citing the company's FY18 guidance cut on "sharp decline" in the outlook for mobility test capacity. Diffely notes that the mobility weakness has "more than offset" the healthy demand in automotive and memory while also overshadowing the promising acquisitions in the robotics market. Despite the post-guidance weakness in the stock price, the analyst says he does not see meaningful near term catalysts.
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