Needham & Company Reiterates a 'Buy' on FEI Company (FEIC); A Solid Investment

May 2, 2012 8:39 AM EDT Send to a Friend
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Price: $85.64 -0.05%

Rating Summary:
    6 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 3 | Down: 17 | New: 2
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Needham & Company reiterates a 'Buy' on FEI Company (NASDAQ: FEIC) price target lowered from $55 to $57.

Analyst, James Riccuiti, said, "FEIC kicked off 2012 with a solid Q1 report, meeting expectations and generating another quarter of record bookings and healthy backlog. Q2 guidance was in line with expectations, and management expects full-year revenue growth of 6-9%, consistent with the range of Street estimates. FEIC appears on track to meet its stated gross margin target of 47.5% by the end the end of 2012. FEIC shares, which are up 25% y/t/d and trading near their 52-week high, remain attractive, in our view, trading at less than 14x our 2013 EPS estimate, adjusting for net cash."

Needham raises FY12 from $2.65/$870.3 mln to $2.70/$885.6 mln and FY13 from $3.05/$929.5 mln to $3.10/$940.6 mln.

For an analyst ratings summary and ratings history on FEI Company click here. For more ratings news on FEI Company click here.

Shares of FEI Company closed at $50.79 yesterday.


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