From Seekingalpha · Dhierin Bechai · · 40s
Teledyne Technologies: Buy The Dip As Growth Accelerates
Teledyne Technologies' Q3 growth and margin expansion support a buy recommendation.
In brief
Teledyne Technologies' Q3 growth and margin expansion support a buy recommendation. Teledyne Technologies raised 2023 EPS guidance to $25.40, $25.50 and revenue to $6.625 billion, implying 8.3% growth. Originally reported by Seekingalpha.
Q3 Performance
Teledyne Technologies reported 15% revenue growth from digital imaging with 34.9% higher adjusted operating income.
2023 Guidance
Management increased 2023 adjusted EPS guidance to $25.40, $25.50 and revenue to $6.625 billion.
Growth Implications
The Varex acquisition and strong backlog support 25% base case price target upside with potential for further gains.
The key point
Teledyne Technologies raised 2023 EPS guidance to $25.40, $25.50 and revenue to $6.625 billion, implying 8.3% growth.
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