DigitalGlobe (DGI) Has an Important Catalyst that Could Drive Shares Higher, Piper Jaffray Says
- Tiffany & Co. (TIF) Tops Q2 EPS by 11c; Boosts FY14 EPS Outlook
- Unusual 11 Mid-Day Movers 8/27: (TUBE) (NTWK) (ISNS) Higher; (XXII) (VII) (SWHC) Lower
- UPDATE: Dow Chemical (DOW) Taps Banks to Sell Two Chemical Units
- Alibaba (BABA) Posts Improved Q2 EPS of 84c
- Yingli Green Energy (YGE) Posts Q2 Loss of 25c/ADS; Guides FY14 Shipments
Piper Jaffray analyst Peter Appert reiterated an Overweight rating and $43 price target on DigitalGlobe (NYSE: DGI) Wednesday, saying expect approval to sell higher resolution imagery to the commercial market - an important catalysts.
"We are increasingly confident DGI will receive approval to sell higher resolution imagery to the commercial market. This will be an
important catalyst to commercial revenue growth and a potential driver of multiple upside for the shares. The sharp pullback in DGI
since reporting disappointing 4Q results creates an interesting opportunity to revisit one of our favorite long-term growth stories."
Appert notes that at an industry conference earlier this week Director of National Intelligence James Clapper indicated that U.S. intelligence agencies had "reached consensus" to approve the sale of higher resolution imagery to the commercial market. The White House and other agencies (Dept's. of Defense,State, and Commerce) must still approve the change.
The firm believes this could be a $100M+ revenue opportunity for DGI over the next couple of years.
Shares of DigitalGlobe closed at $27.49 yesterday.
You May Also Be Interested In
- Jefferies Sees Peak Afrezza Sales of $3.2B, Starts MannKind (MNKD) at Buy
- Nimble Storage (NMBL) PT, Estimates Lifted at Raymond James
- Tiffany & Co. (TIF) PT, Estimates Raised at Sterne Agee on Another 'Beat-and-Raise' Qtr
Create E-mail Alert Related CategoriesAnalyst Comments, Hot Comments
Related EntitiesPiper Jaffray
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!