Needham & Company Maintains a 'Buy' on Globecomm Systems (GCOM); Fine-Tuning Estimates, But Valuation Still Looks Attractive

May 11, 2012 8:13 AM EDT Send to a Friend
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Price: $14.10 --0%

Rating Summary:
    1 Buy, 1 Hold, 2 Sell

Rating Trend: = Flat

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Needham & Company maintains a 'Buy' on Globecomm Systems (NASDAQ: GCOM) price target lowered from $17 to $15.

Analyst, Richard Valera, said, "Globecomm has done a commendable job in our view of growing its business in a difficult Government spending environment and looks on track to deliver far and away the highest Adjusted EBITDA in its history in F2012. While we expect that in F13 a combination of tough comparisons and a still-challenging environment will likely result in more modest growth, with the shares trading at less than 5x F2013E EBITDA we think they remain attractive."

FY12 EPS estimate cut from $1.19 to $1.09 and FY13 from $0.88 to $0.85.

For an analyst ratings summary and ratings history on Globecomm Systems click here. For more ratings news on Globecomm Systems click here.

Shares of Globecomm Systems closed at $11.63 yesterday.


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