Needham & Company Upgrades Bel Fuse (BELFB) to Buy, Positive on Transpower Acquisition

November 30, 2012 7:51 AM EST Send to a Friend
Get Alerts BELFB Hot Sheet
Price: $27.03 --0%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 2 | Down: 5 | New: 0
Trade BELFB Now!
Join SI Premium – FREE
Needham & Company upgraded Bel Fuse (NASDAQ: BELFB) from Hold to Buy with a price target of $19.00.

The firm comments, "Overall, we are positive on BELFB's planned acquisition of Transpower as we believe the deal adds scale and better margins for a relatively inexpensive price. In parallel, we believe BELFB is doing a solid job improving its mix in a challenging environment while restructuring should yield further margin improvement into early 2013. Consequently, we are upgrading BELFB from Hold to Buy and instituting a $19 target on 12x what we view as potential $1.25+ EPS (as combined entity) in ’13 + net cash (likely to remain above $4)."

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

Shares of Bel Fuse closed at $15.40 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Upgrades

Related Entities

Needham & Company

Add Your Comment