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Oppenheimer Lifts PT on Orbotech (ORBK) to $12

February 20, 2013 1:21 PM EST Send to a Friend
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Price: $16.22 --0%

Rating Summary:
    4 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

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Oppenheimer raised estimates its price target on Outperform-rated Orbotech Ltd. (NASDAQ: ORBK) from $11 to $12 following in-line Q4 results. The company posted revenues/GAAP EPS of $100.3M/ -$0.02 vs. Street's $100.2M/-$0.02.

"After a capex freeze in the FPD industry and a drastic slowdown among PCB customers in 2012, management is warming up to the growth opportunities in 2013, analyst Andrew Uerkwitz comments. "We are also seeing encouraging signs in the PCB and FPD industries, especially capacity expansion plans announced in China. However, order visibility is still low, near term. As a result, we raise our 2013 non-GAAP EPS estimate to $0.72 from $0.56 but apply a lower multiple for our price target calculation."

The new price target is based on 9x CY13E non-GAAP EPS plus $6 cash per share.


For an analyst ratings summary and ratings history on Orbotech Ltd. click here. For more ratings news on Orbotech Ltd. click here.

Shares of Orbotech Ltd. closed at $9.35 yesterday.




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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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