Goldman Sachs Cuts Target and Estimates on FLIR Systems (FLIR) After Mixed Q4

Goldman Sachs adjusted estimates and lowered its price target on FLIR Systems, Inc. (NASDAQ: FLIR) from $27 to $25 following mixed Q4 results. While EPS was ahead of the firm's estimates and the consensus, the top-line was light, bookings were very weak, and the end-market outlook is uncertain.

The firm raise 2012E EPS to $1.75 from $1.70 driven by a lower tax rate. But lowers 2013/2014E EPS to $1.95/2.15 from $2.00/2.25 to reflect a faster rate of organic decline at Gov’t and slightly slower growth on the Commercial side, all partially offset by a lower tax rate.

For an analyst ratings summary and ratings history on FLIR Systems, Inc. click here. For more ratings news on FLIR Systems, Inc. click here.

Shares of FLIR Systems, Inc. closed at $24.90 yesterday, with a 52 week range of $21.86-$37.29.

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