Imperial Capital Sees Upside Opportunity in Esterline Tech (ESL)

December 10, 2012 11:42 AM EST Send to a Friend
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Price: $106.78 -9.3%

Rating Summary:
    8 Buy, 1 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 17 | New: 15
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Following the company's Q4 earnings report last week, Imperial Capital maintained an Outperform rating on Esterline Tech (NYSE: ESL) and raised its price target to $73.00 (from $71.00).

Commenting on developments, analyst Ken Herbert said, "While 1Q13 results will be weaker than expected, and there is still volatility risk to the earnings, we increasingly believe the company will see better than expected results, and, in our view, there is upside opportunity from a conservative defense outlook."

"We generally believe that the initial FY13 guidance is relatively conservative. However, the company indicated that the two primary sources of upside in 2013, should they materialize, would be in defense sales and in the commercial aftermarket," he added.

For an analyst ratings summary and ratings history on Esterline Tech click here. For more ratings news on Esterline Tech click here.

Shares of Esterline Tech closed at $62.88 yesterday.

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