Needham & Company Reiterates a 'Buy' on ESCO Technologies (ESE); Solid F2Q Upside Delivered From Healthy Test & Filtration Business

Needham & Company reiterates a 'Buy' on ESCO Technologies (NYSE: ESE), PT $43.

Needham analyst says, "In the near-term, ESE is scripting a story about delivery and execution. Longer-term, ESE may be positioned with a solid new business funnel that will drive both the top and bottom-line, particularly when considering: (1) a revamped Doble business; (2) the looming addition of the substantial SoCal Gas (N/R) project; (3) an eventual step-up from low to medium scale volume on international projects (i.e., CFE); (4) the gradual return to health at Munis perhaps a C12 scenario); and (5) improving momentum in Test and Filtration businesses."

"Adjusting Model, F11 Remains Consistent. Our Jun est. now $168M in revs. & $0.40 ($0.47 ex. amort.), vs. prior $170M & $0.50 (or, $0.57). For F11, we are forecasting $695M & $1.95 (or, $2.22), vs. prior $694M & $1.95 (or, $2.22)."

For more ratings news on ESCO Technologies click here and for the rating history of ESCO Technologies click here.

Shares of ESCO Technologies closed at $37.07 yesterday.

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