UPDATE: Stifel Reiterates On Teradyne, Inc. On Lowered Estimates

In a report published Friday, Stifel analyst Patrick Ho reiterated a Buy rating on Teradyne, Inc. (NYSE: TER), but lowered the price target from $25.00 to $22.00.

In the report, Stifel noted, “Following our recent channel checks, we are lowering our estimates for 4Q14 (Dec) and for FY15 (Dec). We over-estimated the sustainability of overall semi test business (into the normally seasonally softer December quarter), particularly following the better-than-expected first half of spending in the SoC test market. We are also modestly reducing our overall wireless test outlook for December as we believe the ramp of China 4G is not likely to be as robust as we initially forecasted following the June quarter.”

Teradyne, Inc. closed on Thursday at $18.74.