Needham & Company Reiterates Buy Rating on Electronics for Imaging (EFII)

Needham & Company analyst James Ricchiuti reiterates Buy rating and $54 price target on Electronics for Imaging (NASDAQ: EFII), noting confidence on the acceleration of organic growth in 2018 and 2018, citing the Industrial Inkjet business as a target for stronger growth.

Ricchiuti comments, "We hosted EFII management early last week in NY and came away on the margin more confident of accelerating organic growth in 2017 and 2018. We believe the company’s Industrial Inkjet business (~60% of revs) can show stronger growth in the back-half of 2017, benefiting from a pickup in growth in the Reggiani textile printing business and the new emerging corrugated packaging printing opportunity via its disruptive Nozomi platform. The announcement earlier this month that EFII purchased Xerox’s FreeFlow Print Server business has effectively de-risked the Fiery digital front end (DFE) business (~26% of revs). We believe conservative Street numbers position EFII to potentially beat on the top line in '17. With EFII shares trading at 15x our '18 est., we believe there is solid value at current levels."

For an analyst ratings summary and ratings history on Electronics for Imaging Inc. click here. For more ratings news on Electronics for Imaging Inc. click here.

Shares of Electronics for Imaging Inc. closed at $45.83 yesterday.

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