Barclays Slashes Estimates on Orbotech Ltd. (ORBK); More Headwinds Than Heads

June 29, 2012 1:53 PM EDT
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Price: $33.75 +1.02%

Rating Summary:
    9 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Barclays maintains an 'Equalweight' on Orbotech Ltd. (NASDAQ: ORBK) price target of $8.00 (from $12.00).

Analyst, Olga Levinzon, said, "With no sign on the horizon of a reversal in the secular decline in FPD capex, PCB demand weakening incrementally, adjacent market traction coming slower than expected, and the Korea investigation likely to remain a headwind for both opex and investor sentiment for some time, we see shares remaining under pressure."

Shortly after the company lowers FY12 revenue guidance, Barclay's Levinzon, cut FY12 sales from $494M to $435M and EPS from $1.03 to $0.30. FY13 dropped from $564M to $480M and EPS from $1.40 to $0.65.

For an analyst ratings summary and ratings history on Orbotech Ltd. click here. For more ratings news on Orbotech Ltd. click here.

Shares of Orbotech Ltd. closed at $8.10 yesterday.

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