Wedbush Assumes Coverage on Image Sensing Systems (ISNS) at Outperform; Funding Offsetss Q2 Miss

Article Stock Quotes (1) Comments (0)

Wedbush assumes coverage on Image Sensing Systems (NASDAQ: ISNS) with an Outperform. PT $7.00 (from $8.00).

Analyst, Scott Sutherland, said, "Q2 EPS missed our estimate driven by weaker-than-expected high-margin royalty revenue partially offset by higher-than-expected product revenue and lower OPEX. While encouraged by customer interest for the Autoscope Duo (hybrid) product and the enactment of MAP-21 U.S. Transportation legislation that will provide >$100 billion in funding, we temper our expectations since the benefits specific to ITS (intelligent transportation systems) are not clearcut versus emerging competitive solutions and spending remains lumpy. We believe 2012 will be a transition year, but find shares attractively valued."

For an analyst ratings summary and ratings history on Image Sensing Systems click here. For more ratings news on Image Sensing Systems click here.

Shares of Image Sensing Systems closed at $4.99 yesterday, with a 52 week range of $4.64-$10.11.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
• UPDATE: Sterne Agee Downgrades Beazer Homes (BZH) to Neutral
• Topeka Capital Sees Attractive Entry in Ducommun (DCO); Starts at Buy

Create E-mail Alert Related Categories

Analyst EPS View, Analyst PT Change, New Coverage

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?