Benchmark Reiterates a 'Buy' on Cubic (CUB); Secondary Possible or Takeout
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Price: $47.76 -1.14%
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Trade CUB Now!
Benchmark reiterates a 'Buy' on Cubic (NYSE: CUB) price target of $60.00.
Analyst, Josephine Millward, said, "Cubic announced the passing of its 97-year-old Chairman, President, and CEO, Mr. Walter J. Zable, on Monday...Mr. Zable and his family own more than 30% of Cubic (8.8 million shares). Given his passing, the company will likely issue a secondary to diversify the family holding and to increase the visibility and float of the stock, in our view."
"We continue to believe Cubic is an undervalued Transportation growth story from transit upgrades and outsourcing. In addition, we think Cubic has become a take-out target in the coming year with defense industry consolidation."
For an analyst ratings summary and ratings history on Cubic click here. For more ratings news on Cubic click here.
Shares of Cubic closed at $46.30 yesterday, with a 52 week range of $36.71-$53.29.
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Analyst, Josephine Millward, said, "Cubic announced the passing of its 97-year-old Chairman, President, and CEO, Mr. Walter J. Zable, on Monday...Mr. Zable and his family own more than 30% of Cubic (8.8 million shares). Given his passing, the company will likely issue a secondary to diversify the family holding and to increase the visibility and float of the stock, in our view."
"We continue to believe Cubic is an undervalued Transportation growth story from transit upgrades and outsourcing. In addition, we think Cubic has become a take-out target in the coming year with defense industry consolidation."
For an analyst ratings summary and ratings history on Cubic click here. For more ratings news on Cubic click here.
Shares of Cubic closed at $46.30 yesterday, with a 52 week range of $36.71-$53.29.
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