Needham & Company Reiterates a 'Buy' on Anaren (ANEN); Encouraging Update as Wireless Recovery Continues
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Price: $23.68 -1.25%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade ANEN Now!
Needham & Company reiterates a 'Buy' on Anaren (NASDAQ: ANEN) price target of $21.00.
Analyst, Richard Valera, said, "Earlier this week we got the chance to catch up with Anaren CEO Larry Sala at the CTIA Wireless show. The meeting reinforced our recent view that the company’s Wireless business has bottomed and should see solid q/q growth over the next quarters and that the company’s significantly trimmed cost structure should enable it to see sharply improved margins as revenue rebounds. Additionally, we came away incrementally positive on the near-term bookings prospects for the company’s Space and Defense business and the notion that this business should be poised for growth in F13 after a down F12. Overall, our feeling is that ANEN’s business has clearly turned the corner and should be poised to see solid q/q top and bottom line growth for at least the next couple of quarters, and solid top and bottom line y/y growth throughout F13."
For an analyst ratings summary and ratings history on Anaren click here. For more ratings news on Anaren click here.
Shares of Anaren closed at $17.84 yesterday, with a 52 week range of $15.84-$21.89.
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Analyst, Richard Valera, said, "Earlier this week we got the chance to catch up with Anaren CEO Larry Sala at the CTIA Wireless show. The meeting reinforced our recent view that the company’s Wireless business has bottomed and should see solid q/q growth over the next quarters and that the company’s significantly trimmed cost structure should enable it to see sharply improved margins as revenue rebounds. Additionally, we came away incrementally positive on the near-term bookings prospects for the company’s Space and Defense business and the notion that this business should be poised for growth in F13 after a down F12. Overall, our feeling is that ANEN’s business has clearly turned the corner and should be poised to see solid q/q top and bottom line growth for at least the next couple of quarters, and solid top and bottom line y/y growth throughout F13."
For an analyst ratings summary and ratings history on Anaren click here. For more ratings news on Anaren click here.
Shares of Anaren closed at $17.84 yesterday, with a 52 week range of $15.84-$21.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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