Barclays Slashes Estimates on Orbotech Ltd. (ORBK); More Headwinds Than Heads
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Price: $11.50 --0%
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Rating Summary:
4 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 15 | New: 13
Trade ORBK Now!
Barclays maintains an 'Equalweight' on Orbotech Ltd. (NASDAQ: ORBK) price target of $8.00 (from $12.00).
Analyst, Olga Levinzon, said, "With no sign on the horizon of a reversal in the secular decline in FPD capex, PCB demand weakening incrementally, adjacent market traction coming slower than expected, and the Korea investigation likely to remain a headwind for both opex and investor sentiment for some time, we see shares remaining under pressure."
Shortly after the company lowers FY12 revenue guidance, Barclay's Levinzon, cut FY12 sales from $494M to $435M and EPS from $1.03 to $0.30. FY13 dropped from $564M to $480M and EPS from $1.40 to $0.65.
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 $8.10 yesterday, with a 52 week range of $6.43-$13.00.
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Analyst, Olga Levinzon, said, "With no sign on the horizon of a reversal in the secular decline in FPD capex, PCB demand weakening incrementally, adjacent market traction coming slower than expected, and the Korea investigation likely to remain a headwind for both opex and investor sentiment for some time, we see shares remaining under pressure."
Shortly after the company lowers FY12 revenue guidance, Barclay's Levinzon, cut FY12 sales from $494M to $435M and EPS from $1.03 to $0.30. FY13 dropped from $564M to $480M and EPS from $1.40 to $0.65.
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 $8.10 yesterday, with a 52 week range of $6.43-$13.00.
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