Teledyne Technologies

TDY · NYSE

$632.21+$12.45 (+2.01%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $619.76

TDY analyst rating

BuyConsensus of 7 analysts over the last 12 months. 57% rate it a buy.

Strong buy0
Buy4
Hold3
Underperform0
Sell0

12-month price target · 14 analysts

Average $767.20 (+21.4% upside)

Low: $646.40
Now: $632.21
High: $920.85

Upgrades and downgrades

The latest rating actions, newest first

TDY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Needham	Sep 15, 2026	Maintains	Buy	$750.00 → $760.00	47%
Morgan Stanley	Aug 13, 2026	Maintains	Equal-Weight	$680.00 → $715.00	61%
Barclays	Jul 24, 2026	Maintains	Equal-Weight	$614.00 → $640.00	62%
Stifel	Jul 23, 2026	Maintains	Buy	$750.00 → $775.00	33%
Needham	Jul 23, 2026	Maintains	Buy	$735.00 → $750.00	59%
Citigroup	Jul 1, 2026	Maintains	Neutral	$677.00 → $680.00	27%
Barclays	Apr 24, 2026	Maintains	Equal-Weight	$603.00 → $614.00	62%
Stifel	Apr 23, 2026	Maintains	Buy	$720.00 → $750.00	33%
Needham	Apr 22, 2026	Maintains	Buy	$700.00 → $735.00	59%
Barclays	Apr 13, 2026	Maintains	Equal-Weight	$600.00 → $603.00	62%

The case for and against

Updated Oct 14, 2026

Bull case

Teledyne Technologies is viewed positively because its broad portfolio is showing synchronized strength, with the Digital Imaging segment posting a 1.4x book-to-bill and the company’s total book-to-bill at 1.23x for the 11th consecutive quarter above 1.0x, supported by implied orders above $2B and backlog near $5B. Its outlook is reinforced by accelerating defense demand in drones, counter-UAS, space-based sensing, and other unmanned systems, while short-cycle businesses such as test & measurement and machine vision are recovering and management has raised FY26 short-cycle growth expectations to MSD from LSD. Financially, the company delivered 9.8% sales growth to $1.66B, adjusted EPS of $6.28, and record gross margin of 44.4%, while disciplined M&A and margin expansion support further earnings upside.

Bear case

Teledyne Technologies is vulnerable to a contraction in short-cycle activity, which could quickly spill into defense and longer-cycle businesses and pressure sales across the portfolio. Lower revenue would reduce fixed-cost absorption and compress adjusted EBITDA margins, which are modeled at 25.0% in the bear case, while still leaving the valuation exposed to multiple derating if growth deteriorates. Although June liquidity and leverage improved, with cash of $340.1MM, debt of $2.03B, and net debt to TTM EBITDA of 1.1x, risks from tariffs, FX, inflation, supply-chain pressure, and government funding remain significant.

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