TD Cowen raises Teledyne PT, sees improving prospects for drone business

TD Cowen lifts PT on target detection sensor maker Teledyne Technologies TDY.N to $750 from $650, maintains rating at "buy"

New price target implies a 15.5% upside from the stock's last close

Brokerage says co's drone business could grow as its new strike drone appears well-positioned to win upcoming Marine Corps orders

TD Cowen notes Pentagon's new low-cost drone program isn't a direct fit for TDY's systems, but the company could still see meaningful benefit by supplying camera cores to participants

Ten of 14 brokerages rate the stock "buy" or higher, four "hold"; their median PT is $700- data compiled by LSEG

As of last close, shares up 27.1% YTD