UPDATE: Himax Technologies (HIMX): Cutting Estimates on Delays - Baird
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(Updated - December 1, 2016 6:41 AM EST)
Baird analyst, Tristan Gerra, lowered estimates but reiterated his Outperform rating on shares of Himax Technologies (NASDAQ: HIMX) after coming to the conclusion that unit momentum for AR devices industry-wide may not pan out until after 2017, due to high component costs, technology limitations, and a still-nascent ecosystem. Gerra said the longer-term outlook for AR devices remain very promising.
No change to the price target of $10. FY 2017 EPS goes from $0.50 to $0.40 and FY 2018 EPS goes from $0.75 to $0.60.
Shares of Himax Technologies closed at $7.37 yesterday.
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