Oppenheimer Remains Bullish on Zebra Technologies (ZBRA) Following a 24% Dive in Stock

Oppenheimer reiterated an Outperform rating and $110.00 price target on Zebra Technologies (NASDAQ: ZBRA) following a dive in stock. The 24% dive in Zebra's stock follows a poor 2Q15 result and 3Q15 guide. However, Analyst Holden Lewis said that 2Q15 looks like a one-time reset, and is not a sign of lingering issues.

Holden commented, "The 24% dive in Zebra's stock following a poor 2Q15 result and 3Q15 guide, and which has held, continues to look excessive. Digging into the issue, it still looks more like a one-time expectation reset than a sign of execution failure. Certain transition costs have likely peaked while price and synergy gains are still largely on the come. The weight of project mix on margins carries some clear top-line benefits. Good topline catalysts and future margin gains off what was likely a bottom in 2Q15 suggest good growth against a drab macro outlook. Given that its attractive growth prospects are now paired with a more attractive multiple, we remain constructive on Zebra shares."

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

Shares of Zebra Technologies closed at $82.88 yesterday.

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