Needham & Company Starts Rogers Corp (ROG) at Buy

September 13, 2016 6:25 AM EDT
Get Alerts ROG Hot Sheet
Price: $77.88 -0.5%

Rating Summary:
    7 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
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Needham & Company initiates coverage on Rogers Corp (NYSE: ROG) with a Buy rating and a price target of $70.00.

Analyst Sean K.F. Hannan commented, ": We are initiating coverage of Rogers Corp with a Buy rating and $70 price target. In our view, ROG is an attractive materials technology name that combines: (1) an opportunistic entry point; (2) a revenue acceleration story; (3) a margin expansion story; and (4) a well-run strategy to dominate niche markets with innovative technology. Over the medium term, we expect to see Rogers make healthy progress back toward its 3-pronged target model and drive strong earnings growth given what should materialize as favorable y/y comps. Our $70 target reflects an 18.5x multiple on C17 that's in-line with ROG's 10-yr avg and only a slight premium to where our selected comp group already trades today."

For an analyst ratings summary and ratings history on Rogers Corp click here. For more ratings news on Rogers Corp click here.

Shares of Rogers Corp closed at $56.23 yesterday.

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