Shares of Teradyne Inc. (TER) plunged 6.19% in pre-market trading on Monday, following a downgrade by Morgan Stanley analyst Shane Brett CFA, who maintained a "Sell" rating on the stock and lowered the price target to $117.
Brett cited challenging forecasts and revised revenue and earnings targets as the reasons behind the bearish stance on Teradyne. The analyst's report suggests that the company is facing headwinds that could impact its financial performance, leading to a potential further decline in the stock price.
The pre-market plunge in Teradyne's shares reflects investors' concerns over the analyst's revised outlook and recommendations. However, it remains to be seen how the stock will perform during regular trading hours as the market digests the news and other factors come into play.
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