Teradyne downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley downgraded Teradyne (TER) to Underweight from Equal Weight with a price target of $117, down from $121. Contrary to company and Street outlooks, the firm doesn’t expect Teradyne to reverse market share losses. Further, Morgan Stanley believes moderate recoveries in smartphone and NAND won’t shift test market share materially.

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