Needham & Company maintains a 'Hold' on Power-One (PWER); Results and Guidance Likely Better than Feared, but Expect Margin Pressure to Continue
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Price: $46.66 +2.50%
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company maintains a 'Hold' on Power-One (NASDAQ: PWER).
Needham analyst says, "We maintain our Hold on PWER following a 1Q11 report that was inline with its preannouncement. While PWER lowered full year revenue guidance, the small reduction was likely better than feared. In the near-term, business conditions remain challenging with excess channel inventory in Europe, but PWER’s expansion into new markets in N.A. and Asia are driving growth. PWER’s Power business is tracking better than expected and is driving some of the upside. However, we believe sector weakness will continue to pressure prices and margins. With the new Italian subsidy plan in place, we expect slow sector improvement to limit the stock price."
For more ratings news on Power-One click here and for the rating history of Power-One click here.
Shares of Power-One closed at $7.93 yesterday.
Needham analyst says, "We maintain our Hold on PWER following a 1Q11 report that was inline with its preannouncement. While PWER lowered full year revenue guidance, the small reduction was likely better than feared. In the near-term, business conditions remain challenging with excess channel inventory in Europe, but PWER’s expansion into new markets in N.A. and Asia are driving growth. PWER’s Power business is tracking better than expected and is driving some of the upside. However, we believe sector weakness will continue to pressure prices and margins. With the new Italian subsidy plan in place, we expect slow sector improvement to limit the stock price."
For more ratings news on Power-One click here and for the rating history of Power-One click here.
Shares of Power-One closed at $7.93 yesterday.
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