After Solid Q3, Needham & Co. Maintains Buy on Mentor Graphics

November 30, 2012 9:14 AM EST Send to a Friend
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Price: $22.20 +0.50%

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    2 Buy, 2 Hold, 0 Sell

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After the company reported solid Q3 results, Needham & Company maintained a Buy rating on Mentor Graphics (NASDAQ: MENT) with a price target of $21.00.

Commenting on the news, analysts Richard Valera of Needham & Company said "Despite the less than exciting y/y bookings comparisons, we believe Mentor’s business and EDA demand trends in general remain healthy—in Mentor’s case led by strength in its Systems, Auto, ESL and emulation businesses."

"While acknowledging that the company’s initial commentary on F14 calling for a more 2H-loaded profile is not what we would have hoped for, we feel the company’s industry-low multiple of 9x our out year estimate more than compensates for this risk," added Valera.

For an analyst ratings summary and ratings history on Mentor Graphics (NASDAQ: MENT) click here. For more ratings news on Mentor Graphics click here.

Shares of Mentor Graphics closed at $14.79 yesterday.


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