Needham & Company Mintains a 'Buy' on Anaren (ANEN); Trimming Estimates and PT in Wake of AML Deal Loss, as F1H12 S&D Outlook Appears Softer
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Price: $27.98 --0%
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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Needham & Company maintains a 'Buy' on Anaren (NASDAQ: ANEN), lowers PT from $24 to $21.
Needham analyst says, "In the wake of ANEN losing its bid for AML we are revisiting our estimates for F2012. While Anaren’s historically volatile Wireless
business continues to have a solid outlook, it appears a combination of factors, including a sluggish defense procurement environment and non-ideal timing between the end of its CREW program (in 3QF11) and ramp of new programs, is likely to result in lower F1H12 S&D revenue than we had previously assumed. We are accordingly taking a proactive cut at our estimates, which should better reflect this dynamic. While acknowledging the shares are likely to face some near-to-medium term headwinds as F1H12 expectations are reset, we maintain our Buy for patient, value-oriented investors willing to look through the flattish near-term growth outlook to what we think will be a meaningfully stronger F2H12."
For more ratings news on Anaren click here and for the rating history of Anaren click here.
Shares of Anaren closed at $17.99 yesterday.
Needham analyst says, "In the wake of ANEN losing its bid for AML we are revisiting our estimates for F2012. While Anaren’s historically volatile Wireless
business continues to have a solid outlook, it appears a combination of factors, including a sluggish defense procurement environment and non-ideal timing between the end of its CREW program (in 3QF11) and ramp of new programs, is likely to result in lower F1H12 S&D revenue than we had previously assumed. We are accordingly taking a proactive cut at our estimates, which should better reflect this dynamic. While acknowledging the shares are likely to face some near-to-medium term headwinds as F1H12 expectations are reset, we maintain our Buy for patient, value-oriented investors willing to look through the flattish near-term growth outlook to what we think will be a meaningfully stronger F2H12."
For more ratings news on Anaren click here and for the rating history of Anaren click here.
Shares of Anaren closed at $17.99 yesterday.
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