FEI Company (FEIC) PT Cut at Needham & Company after First Miss in Over 5 Years

Needham & Company analyst James Ricchiuti cut his price target on FEI Company (NASDAQ: FEIC) to $98.00 (from $105.00) following the company's Q1 miss. However, the analyst maintained a Buy rating as it was the first miss in over 5 years.

Ricchiuti comments, "FEIC after the market close yesterday reported its first quarterly earning miss in over 5 years. EPS was penny below the low-end of guidance and 11% below consensus. Shortfall due to timing of customer acceptance of several tools. Bookings just shy of guidance due to delays in closing orders in materials research market, though orders were still a record for a March quarter. Mgmt provided a weaker Q2 guide and lowered its full-year rev growth guidance to 8-10% from 10-14% as a result of factors cited above. FEIC shares will be down at the open today, representing a buying opportunity, in our view, as these issues appear temporary."

For an analyst ratings summary and ratings history on FEI Company click here. For more ratings news on FEI Company click here.

Shares of FEI Company closed at $88.80 yesterday.

You May Also Be Interested In

• Jefferies Upgrades Husqvarna AB (HUSQB:SS) to Buy
• Iberdrola SA (IBE:SM) (IBDRY) PT Raised to EUR13.50 at Morgan Stanley
• Acerinox SA (ACX:SM) (ANIOY) PT Lowered to EUR8.20 at JPMorgan