UPDATE: Barclays Starts Edwards Group Limited (EVAC) at Overweight; Very Attractive Valuation

June 20, 2012 7:36 AM EDT Send to a Friend
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Price: $10.27 --0%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 43 | New: 52
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(Updated - June 20, 2012 1:23 PM EDT)

Barclays initiates coverage on Edwards Group Limited (NASDAQ: EVAC) with an Overweight. PT $15.00.

Analyst, C.J. Muse. said, "1) Edwards offers a clear roadmap for sustainable top-line growth into 2013 led by cyclical business plus EUV/AMOLED/Service product cycles; 2) Edwards is now restructured to a flexible operating model, with EBITDA margins sustainable at mid 20s% through CY15; 3) We model Net Debt to EBITDA declining to ~1.6x exiting CY12 and ~0.7x exiting CY13 from current ~2.0x providing visibility to reduced leverage and potential for dividends/share repurchase by 2014."

For an analyst ratings summary and ratings history on Edwards Group Limited click here. For more ratings news on Edwards Group Limited click here.

Shares of Edwards Group Limited closed at $7.40 yesterday.


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