Imperial Capital Raises Price Target on ARC Group Worldwide (ARCW) to $4
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Imperial Capital reiterated an In-Line rating on ARC Group Worldwide (NASDAQ: ARCW), and raised the price target to $4.00 (from $3.00), following the company's 4Q earnings report. 4Q16 revenue of $28mn was up about 5% sequentially. ARC could likely continue to see increasing revenue from its 3DMT division.
Analyst Saliq Khan commented, "We are maintaining our In-Line rating and raising our one-year price target to $4 from $3 on ARCW shares, about 10% above the recent share price. During FY16, ARC launched new production parts, improved sequential sales over the last four quarters, and increased sales and marketing efforts. As such, we are raising our one-year price target to $4 from $3, but are maintaining our In-Line rating. We await results of these initiatives, which we believe could help drive revenue and margin growth during FY17."
Shares of ARC Group Worldwide closed at $3.62 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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