Jefferies Lifts Target on Orbital Sciences (ORB) to $21, Adjusts Estimates

September 14, 2012 8:28 AM EDT
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Price: $28.85 --0%

Rating Summary:
    3 Buy, 1 Hold, 0 Sell

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    Up: 24 | Down: 17 | New: 14
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Jefferies boosted its price target on Orbital Sciences (NYSE: ORB) from $19 to $21, while reiterating a Buy rating.

The firm comments, "With the delay of another 6 weeks of the handover of the Antares launchpad at Wallops Island, VA., we revise our EPS estimates. This event is one milestone in a series of events that will lead to the first mission under NASA's Commercial Resupply Services Contract (CRS). Program success should lead to higher operating margins, revenue, and free cash flow for the business."

The firm lowered their current qtr EPS estimates from $0.25 to $0.24, FY from $1.00 to $0.95 and raised Next year from $1.15 to $1.20.

For an analyst ratings summary and ratings history on Orbital Sciences click here. For more ratings news on Orbital Sciences click here.

Shares of Orbital Sciences closed at $14.70 yesterday.

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