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Auriga Reiterates a 'Buy' on CPI Aerostructures (CVU); Transformational Bids in the Pipeline

May 9, 2012 10:52 AM EDT Send to a Friend
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Price: $11.05 +0.09%

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Auriga reiterates a 'Buy' on CPI Aerostructures (NYSE: CVU) price target of $20.00.

Analyst, Mike Callahan, said, "CPI Aerostructures announced first-quarter EPS of $0.27, which was up 39.6% although results came in light of consensus of $0.33. While it was clear the Street misinterpreted the pattern of earnings in FY12, management did reiterate full-year guidance calling for revenue of $95 million to $98 million and net income of $12 million to $13 million. More importantly, the company announced total bids outstanding of $952 million, which is up sharply from the $282 million at the end of FY11 and includes two large potential contracts for 787 content. With guidance intact, and a potential for transformational contracts on a high profile program, we believe investors will be well rewarded to build a position in CVU, and reiterate our rating and price target."

For an analyst ratings summary and ratings history on CPI Aerostructures click here. For more ratings news on CPI Aerostructures click here.

Shares of CPI Aerostructures closed at $14.49 yesterday.




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