Needham & Company Downgrades Measurement Specialties (MEAS) to Hold
- Market Wrap: FOMC Tapers Further; Q2 GDP Outpaces Expectations; U.S. Job Growth Lags in July
- After-Hours Stock Movers 7/30: (MOBL) (VPRT) (LPSN) Higher; (EHTH) (ATEN) (GLUU) Lower (more...)
- Yelp (YELP) Tops Q2 EPS by 7c; Issues Solid Outlook
- Whole Foods Market, Inc. (WFM) Tops Q3 EPS by 2c; Comps Growth Lighter than Expected
- S&P Cuts Argentina to 'SD' from 'CCC-/C'
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.
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades Alaska Air (ALK) to Neutral
- Cowen Upgrades Twitter (TWTR) to Market Perform; Q2 Performance Solid, Some Questions Remain
- Goldman Sachs Downgrades Eaton Corporation (ETN) to Neutral
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!