Needham & Company Reiterates Bullish Stance on Measurement Specialties (MEAS) on Latest Deal

April 18, 2013 9:11 AM EDT
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Price: $86.00 --0%

Rating Summary:
    0 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Needham & Company raised its price target on Measurement Specialties (NASDAQ: MEAS) from $40 to $42 after the acquisition of the spectrum sensors business of API Tech.

Sean K.F. Hannan comments, "We remain positive on the MEAS approach as the company continues to demonstrate its keen ability to execute smart and strategic tuck-in deals that enhance the overall offering as well as the financial model. Further, our recent conversations with management during investor meetings (as well as preliminary results on 4/15) suggest MEAS is on path for solid revenue in F14 while recent healthy bookings provide material support as part of a "singles and doubles" (consistent with our thesis). Consequently, we reiterate our Buy and bump our target up to $42 (from $40) on just over 9x our F14 EBITDA est. of ~$73M."

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 $39.40 yesterday.

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