3 New Strong Buy Ratings from Top-Rated Analysts: 12/12/2024

Let's take a peek into the brains of some of Wall Street's top-performing analysts. This week, Teledyne Technologies (NYSE: TDY) got a huge price target increase, ServiceNow Inc. (NYSE: NOW) 

got accolades for new offerings, and Yext Inc. (NYSE: YEXT) crushed earnings. Here's what we're watching.

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1- Teledyne Technologies (NYSE: TDY)

Zen Rating: B (BUY)

Analyst/Firm:  Damian Karas / UBS

Analyst ranking:  Top 26% / average return +6% / win rate 52% 

Price at writing: $471.02

Price target: $585.00 (See more forecasts here)

• UBS's Damian Karas assumed coverage on Teledyne Technologies (NYSE: TDY) with a Strong Buy rating. The analyst also raised their price target by 11.4% from $525 to $585.
• Karas told investors that Teledyne Technologies has a proven track record of leveraging M&As to drive consistent double-digit EPS growth.
• The stock is currently selling at a discount against peers and historical valuation, which the analyst attributed to slowing organic growth in 2023 and 2024 caused by short-cycle industrial weakness.
• On the plus side, there are encouraging signs for Teledyne Technologies, such as healthy book-to-bill rates and a positive Y/Y organic sales inflection in Q3, Karas said.
• According to the analyst, Teledyne Technologies will resume double-digit EPS growth in 2025.
• In addition, Karas predicted a brighter future for short-cycle activity and numerous re-ratings, thanks to the company's accelerated organic growth.

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2- ServiceNow Inc. (NYSE: NOW) 

Zen Rating: B (BUY) 

Analyst/Firm: J. Derrick Wood / TD Cowen

Analyst ranking:  Top 3% / average return +18.63% / win rate 68% 

Price at writing: $1127.84

Price target: $1,300.00  (See more forecasts here)

• TD Cowen's J. Derrick Wood raised their price target on Servicenow (NYSE: NOW) by 26.8% from $1,025 to $1,300 on 12/10. The analyst maintained their Strong Buy rating on the stock.
• Wood made two points backgrounding their price target hike on ServiceNow:
• The company is in the early innings of a powerful new AI product cycle with Pro+.
• The release of new data-oriented solutions, Workflow Data Fabric and RaptorDB Pro, in early 2025 will advance ServiceNow into Agentic AI Network capabilities and introduce new monetization levers.

3- Yext Inc. (NYSE: YEXT) 

Zen Rating: B (BUY)

Analyst/Firm: Rohit Kulkarni / Roth MKM

Analyst ranking:  Top 1% / average return +41.78% / win rate 71% 

Price at writing: $7.06

Price target: $10.50  (See more forecasts here)

• Roth MKM's Rohit Kulkarni raised their price target on Yext (NYSE: YEXT) by 40% from $7.5 to $10.5 on 2024/12/10. The analyst reiterated their Strong Buy rating on the stock.
• Yext reported its Q3 2025 earnings.
• Kulkarni attributed their price target hike on Yext to the quarter's revenue and adjusted EBITDA beats.
• The analyst also cited direct customer ARR - annual recurring revenue - remaining "stable" on an organic basis and accelerated on a reported basis including a recent acquisition.

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