Needham & Company Reiterates a 'Buy' on FEI Company (FEIC); Investor Day Highlights – Another Strong Bookings Qtr Likely

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Needham & Company reiterates a 'Buy' rating on FEI Company (Nasdaq: FEIC), raises price target by $1 to $25.

Needham analyst says, "We came away from FEI's annual investor meeting more confident about our EPS estimates for this year. Management said bookings, which set a new Q1 record last quarter, have remained strong thus far in Q2. The strengthening in the dollar versus the euro has prompted us to shave our revenue estimate for this year and next, although the currency swing actually benefits FEI's gross margins and results in lower op-ex. A stronger mix of electronics in the revenue mix should also bode well for gross margins in 2010 and 2011."

To see all the upgrades/downgrades on shares of FEIC, visit our Analyst Ratings page.

FEI Company is a supplier of instruments for nanoscale imaging, analysis and prototyping to enable research, development and manufacturing in a range of industrial, academic and research institutional applications.

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