Needham & Company Maintains a 'Buy' on Benchmark (BHE); Negative Pre-Announcement Tied To Inventory Correction & Slight Demand Pause
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Price: $72.64 -0.98%
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company maintains a 'Buy' on Benchmark (NYSE: BHE), lowers PT by $1 to $20.
Needham analyst says, "After negatively pre-announcing the March quarter, BHE will now be challenged to show much if any growth in 2011 as some of its customers work through a near-term inventory correction and its overall business transitions into a post-Sun (N/R) world. However, we remind investors that 2011 was never really viewed as a growth year for BHE. On the positive side, we continue to believe that positive outsourcing trends continue to benefit the company and BHE’s two large Computing programs are still set to begin ramping in 2H11 (and should help drive growth in 2012)...For 1Q, we are forecasting $540 million and $0.25, vs. prior $585 million and $0.34. For 2011, our model is now $2.41 billion and $1.38, vs. our prior $2.53 billion and $1.49."
For more ratings news on Benchmark click here and for the rating history of Benchmark click here.
Shares of Benchmark closed at $17.21 yesterday.
Needham analyst says, "After negatively pre-announcing the March quarter, BHE will now be challenged to show much if any growth in 2011 as some of its customers work through a near-term inventory correction and its overall business transitions into a post-Sun (N/R) world. However, we remind investors that 2011 was never really viewed as a growth year for BHE. On the positive side, we continue to believe that positive outsourcing trends continue to benefit the company and BHE’s two large Computing programs are still set to begin ramping in 2H11 (and should help drive growth in 2012)...For 1Q, we are forecasting $540 million and $0.25, vs. prior $585 million and $0.34. For 2011, our model is now $2.41 billion and $1.38, vs. our prior $2.53 billion and $1.49."
For more ratings news on Benchmark click here and for the rating history of Benchmark click here.
Shares of Benchmark closed at $17.21 yesterday.
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