Needham & Company Downgrades Measurement Specialties (MEAS) to Hold

June 19, 2014 7:46 AM EDT
Get Alerts MEAS Hot Sheet
Price: $86.00 --0%

Rating Summary:
    0 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 3 | Down: 5 | New: 17
Trade MEAS Now!
Join SI Premium – FREE

Needham & Company downgraded Measurement Specialties (NASDAQ: MEAS) from Buy to Hold following the takeover by TE Connectivity (NYSE: TEL) for $86/share cash.

Analyst Sean K.F. Hannan said, "We believe TEL’s planned acquisition of MEAS is a sound strategy for the global connectivity leader as it expands its offering as a solutions provider to both “connect and sense”. The MEAS portfolio will also likely help expand TEL’s strategic efforts in auto (engine/vehicle), internet of things (IoT) & other attractive growth markets. Further, we believe MEAS investors will welcome the deal considering the 10% premium (to 6/18 close) is on top of the stock's healthy 28.5% performance YTD (vs just under 6% for the S&P 500) following a strong run in '13. As we also believe it is unlikely another bidder will step up, we now downgrade our rating on MEAS to Hold."

For an analyst ratings summary and ratings history on Measurement Specialties click here. For more ratings news on Measurement Specialties click here.

Shares of Measurement Specialties closed at $78.00 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Downgrades

Related Entities

Needham & Company, Standard & Poor's, Definitive Agreement

Add Your Comment