Canaccord Adams Reiterates a 'Buy' on Advanced Analogic Technologies (AATI); Raises Estimates & Price Target
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Canaccord Adams reiterates a 'Buy' on Advanced Analogic Technologies (Nasdaq: AATI).
Canaccord analyst says, "We are raising our estimates and price target - Revenue: Q2/09E increased from US$15.4 million to US$19.5 million; C2009E increased from US$66 million to US$80.3 million. EPS: Q2/09E increased from (US$0.09) to (US$0.07); C2009E increased from (US$0.34) to (US$0.29).
We are raising our price target to US$6 from US$4. AATI's price target of US$6 is 3.2x market cap to revenues based on our C2009 revenue estimate of US$80.3 million. This is a premium to a 2.5x multiple for our coverage universe."
Advanced Analogic Technologies Incorporated is a supplier of power management semiconductors for consumer, communications and computing electronic devices, such as wireless handsets, notebook and tablet computers, smartphones, camera phones, digital cameras, personal media players, Bluetooth headphones and accessories, notebook computers, digital televisions (TVs), set top boxes and displays.
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