Teledyne Technologies Inc: Solid organic growth, full year guidance raise.

Research evidence excerpt

Teledyne Technologies Inc: Solid organic growth, full year guidance raise.

Forecast returns

Forecast price appreciation 21.2%

Forecast dividend yield 0.0%

Forecast stock return 21.2%

Market return assumption 9.3%

Forecast excess return 12.0%

Company Description

Teledyne Technologies was founded in 1960 by Henry Singleton and George Kozmetsky. On

November 29, 1999, Teledyne was spun off as an independent publicly traded company.

Teledyne provides enabling technologies for various end markets that require advanced

technology with high reliability including factory automation, condition monitoring, A&D, air/

water quality monitoring, electronics development, medical imaging and pharmaceutical

research, offshore energy exploration & production. In 2021, Teledyne acquired FLIR Systems

and furthered its evolution as a global sensing and decision-support technology company.

Valuation Method and Risk Statement

Valuation: We base our price target relative P/E methodology. Risk & Disclosure Statement:

The Small & Mid-Cap Industrial Sector faces a broad range of risks. It is cyclical in nature with

exposure to the underlying cycles inherent in everything from aviation, auto, trucking, to

construction and consumer electronics, to mining, power, oil and gas, and more depending

on the specific stock. SMID Cap Industrial companies are subject to risks associated with

unexpected changes in the underlying global macro environment, currency, and interest rate

movements, commodity price inflation as well as company-specific execution, M&A,

integration, labor supply, and changes in the competitive or regulatory environment. These

changes can be in the form of product technology (e.g., solar, energy storage, electric