Needham & Company Upgrades Benchmark (BHE) to Buy

February 5, 2014 6:57 AM EST Send to a Friend
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Price: $24.78 +2.14%

Rating Summary:
    1 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 9 | New: 11
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Needham & Company upgraded Benchmark (NYSE: BHE) from Hold to Buy with a price target of $26 following Q4 results.

"Overall, we believe healthy new program momentum (through wins as well as the recent CTS acquisition) and cost control traction led to solid 4Q results and guidance for BHE despite the continuation of a lackluster environment," analyst Sean K.F. Hannan said. "We believe BHE is executing well as its new program wins are supportive of growth, its mix (and margins) is improving, and its active buyback further supports a positive EPS trajectory. Fundamentally, we believe BHE is perhaps better positioned than appreciated by the Street."

1Q becomes $645M in revs. and $0.31 in EPS (incl. opt.), vs. prior $644M & $0.29. For ‘14 their est. now $2.75B & $1.44, vs. prior $2.73B & $1.39. Instituting F15 estimates of $2.84B/$1.49.

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

Shares of Benchmark closed at $22.53 yesterday.




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