Harman (HAR): Raising PT - Wells Fargo

August 8, 2016 9:17 AM EDT
Get Alerts HAR Hot Sheet
Price: $110.72 +0.05%

Rating Summary:
    5 Buy, 11 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
Trade HAR Now!
Join SI Premium – FREE

Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.

Wells Fargo analyst, David Lim, reiterated his Outperform rating on shares of Harmon International (NYSE: HAR) after the company delivered a solid quarter. Revenues exceeded consensus by $90MM and EPS surpassed consensus.

HAR reported FQ4 EPS of $1.57 versus consensus of $1.52. Revenues were $1.88B (+12% yr/yr) vs the consensus of $1.79B. Higher than anticipated operating performance (+$0.20), lower interest expense (+$0.02), a lower share count (+$0.02) and foreign exchange (F/X) gains (+$0.02) were partially offset by a higher tax rate (-$0.18).

Connected Car revenue was $843MM (+11% yr/yr). Connected Services revenue was $185MM. Lifestyle revenue was $578MM (+25% yr/yr). Professional revenue was $286MM
(flattish yr/yr).

The new valuation range of $94 - $97 applies a P/E ratio of 13.2x-13.6x to the CY17 EPS

. price target of $95.00 (from $88.00)

For an analyst ratings summary and ratings history on Harmon International click here. For more ratings news on Harmon International click here.

Shares of Harmon International closed at $86.92 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Wells Fargo

Add Your Comment