Needham & Company Downgrades Measurement Specialties (MEAS) to Hold
- Market Wrap: SanDisk Slumps on Outlook; Initial Claims Fall; FCC Drops Neustar
- Google (GOOG) Agreed to Pay Incoming CFO Ruth Porat $70M by 2016
- After-Hours Stock Movers 03/26: (OXM) (OREX) (YHOO) Higher; (RH) (GME) Lower (more...)
- GameStop (GME) Misses Q4 EPS by 1c; Issues Light FY15 EPS Outlook
- Restoration Hardware (RH) Tops Q4 EPS by 1c; Guides Q1, FY15
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."
Shares of Measurement Specialties closed at $78.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Myriad Genetics (MYGN) to Sell
- Needham & Company Positive on Micron (MU) Joint 3D NAND Product with Intel (INTC)
- Needham & Company Sees SanDisk (SNDK) Multiple Contraction and Continued Pressure on Shares
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesNeedham & Company, Standard & Poor's, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!