Needham & Company Upgrades Bel Fuse (BELFB) to Buy, Positive on Transpower Acquisition
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Price: $15.47 +2.04%
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
1 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade BELFB Now!
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, with a 52 week range of $14.20-$21.00.
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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, with a 52 week range of $14.20-$21.00.
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