Needham & Company Upgrades FLIR Systems, Inc. (FLIR) to Buy
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Price: $24.51 --0%
Rating Summary:
5 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Rating Summary:
5 Buy, 9 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 0 | Down: 1 | New: 6
Trade FLIR Now!
Needham & Company upgraded FLIR Systems, Inc. (NASDAQ: FLIR) from Hold to Buy with a price target of $27.00 on valuation and what they believe will be increased focus on new markets FLIR is addressing in its commercial business.
"FLIR late last week announced the acquisition of Traficon Int'l NV, a leading supplier of video image processing software and hardware for traffic management. FLIR paid $46M to acquire privately held Traficon, which we believe has revenues of ~$25M," the firm notes. "We believe the acquisition of Traficon and earlier purchase of Lorex Technology, a supplier of video surveillance systems for residential and commercial markets, have the potential to open up new growth platforms for FLIR's commercial imaging business. While we remain concerned about possible downside to our estimate for FLIR's defense business (45% of Q3 rev), we believe this is priced into the stock."
For an analyst ratings summary and ratings history on FLIR Systems, Inc. click here. For more ratings news on FLIR Systems, Inc. click here.
Shares of FLIR Systems, Inc. closed at $22.09 yesterday, with a 52 week range of $17.99-$27.06.
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"FLIR late last week announced the acquisition of Traficon Int'l NV, a leading supplier of video image processing software and hardware for traffic management. FLIR paid $46M to acquire privately held Traficon, which we believe has revenues of ~$25M," the firm notes. "We believe the acquisition of Traficon and earlier purchase of Lorex Technology, a supplier of video surveillance systems for residential and commercial markets, have the potential to open up new growth platforms for FLIR's commercial imaging business. While we remain concerned about possible downside to our estimate for FLIR's defense business (45% of Q3 rev), we believe this is priced into the stock."
For an analyst ratings summary and ratings history on FLIR Systems, Inc. click here. For more ratings news on FLIR Systems, Inc. click here.
Shares of FLIR Systems, Inc. closed at $22.09 yesterday, with a 52 week range of $17.99-$27.06.
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