Harman (HAR): Raising PT - Wells Fargo
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
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)
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
- UPDATE: CommVault Systems (CVLT) PT to $62 at Mizuho Following Strong Q2
- Fossil Group (FOSL): Successful Wearables Launch May Open The Door To Growth - Wells Fargo
- FBR Capital Sees Under Armour (UA) Sell-Off as Buying Opportunity
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Analyst PT Change
Related EntitiesWells Fargo
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!