Needham & Company Starts Electronics for Imaging Inc. (EFII) at Buy
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Needham & Company initiates coverage on Electronics for Imaging Inc. (NASDAQ: EFII) with a Buy rating and a price target of $58.00, calling it the leader in the "Imaging of Things."
Analyst James Ricchiuti commented, "We are initiating coverage of Electronics for Imaging (EFII) with a Buy rating and $58 target price. EFI is driving the transition from analog to digital in key industrial printing markets, including display graphics, textile, ceramic tile and corrugated packaging. Notwithstanding ongoing global economic headwinds, we believe EFI remains on track to reach $1B revenue in 2016, reflecting strong momentum in its Industrial Inkjet business, which represents over half its revenues. Our positive thesis on EFII, which has a long and successful track record of disrupting the analog printing market, is based on our belief that EFII will see accelerating organic growth in 2017 and 2018, benefiting from improving conditions in its core markets and growing momentum in new areas, notably the corrugated packaging printing market."
Shares of Electronics for Imaging Inc. closed at $48.77 yesterday.
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