Kaufman Raises Price Target on Aixtron's (AIXG) Following Meeting with Management
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Price: $3.06 --0%
Rating Summary:
4 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Rating Summary:
4 Buy, 14 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
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Following meeting with Aixtron's (NASDAQ: AIXG) management team, Kaufman Bros. is reiterating its Hold rating and is increasing its price target from $13 to $14 on its shares.
The firm reports orders appear to be stabilizing and as a result is increasing its full year 2011 revenue estimate from €588 million to €615 million. Kaufman believes management has has taken the necessary steps to lesson the impact of the company's weak performance in Asia and GCL order cancellations.
An analyst at the firm comments, "LED prices have come down in the U.S. at least 40% over the course of 2011, and even more so in global markets," and further stated, "As a result, we expect prices will continue to decline significantly in these markets during 2012. This should help to drive adoption and tool orders, as well . The timing is still uncertain, but we do not expect this pricing arbitrage to last for very long, and as such we could see upside to our new 2012 total revenue forecast."
Kaufman increased its FY11 and FY12 EPS estimates from €$1.07 and €$0.80 to €$1.14 and €$0.94. The firm's current revenue estimates for FY11 and FY12 are €$615.3 million and €$573.8 million.
For an analyst ratings summary and ratings history on Aixtron click here. For more ratings news on Aixtron click here.
Shares of Aixtron closed at $12.57 yesterday.
The firm reports orders appear to be stabilizing and as a result is increasing its full year 2011 revenue estimate from €588 million to €615 million. Kaufman believes management has has taken the necessary steps to lesson the impact of the company's weak performance in Asia and GCL order cancellations.
An analyst at the firm comments, "LED prices have come down in the U.S. at least 40% over the course of 2011, and even more so in global markets," and further stated, "As a result, we expect prices will continue to decline significantly in these markets during 2012. This should help to drive adoption and tool orders, as well . The timing is still uncertain, but we do not expect this pricing arbitrage to last for very long, and as such we could see upside to our new 2012 total revenue forecast."
Kaufman increased its FY11 and FY12 EPS estimates from €$1.07 and €$0.80 to €$1.14 and €$0.94. The firm's current revenue estimates for FY11 and FY12 are €$615.3 million and €$573.8 million.
For an analyst ratings summary and ratings history on Aixtron click here. For more ratings news on Aixtron click here.
Shares of Aixtron closed at $12.57 yesterday.
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